SYSTM Wealth Solutions LLC Sells 4,982 Shares of Intuit Inc. (NASDAQ:INTU)

SYSTM Wealth Solutions LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 31.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,629 shares of the software maker’s stock after selling 4,982 shares during the quarter. Intuit accounts for about 1.6% of SYSTM Wealth Solutions LLC’s investment portfolio, making the stock its 12th largest position. SYSTM Wealth Solutions LLC’s holdings in Intuit were worth $6,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new position in Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC bought a new position in Intuit in the 2nd quarter valued at $35,000. Finally, Sachetta LLC bought a new position in Intuit in the 4th quarter valued at $39,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Insiders sold 16,940 shares of company stock valued at $10,721,252 over the last three months. Company insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.2 %

Shares of Intuit stock opened at $644.82 on Wednesday. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The business has a 50-day moving average of $636.25 and a two-hundred day moving average of $631.29. The company has a market capitalization of $180.26 billion, a P/E ratio of 59.49, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities analysts predict that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Analyst Ratings Changes

INTU has been the subject of several research analyst reports. Barclays cut their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Wells Fargo & Company boosted their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. BMO Capital Markets boosted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.