Mn Services Vermogensbeheer B.V. Cuts Holdings in Intuit Inc. (NASDAQ:INTU)

Mn Services Vermogensbeheer B.V. lowered its position in Intuit Inc. (NASDAQ:INTU) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,305 shares of the software maker’s stock after selling 2,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Intuit were worth $67,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. PDS Planning Inc lifted its stake in shares of Intuit by 6.2% in the 3rd quarter. PDS Planning Inc now owns 1,277 shares of the software maker’s stock valued at $793,000 after acquiring an additional 75 shares during the last quarter. QRG Capital Management Inc. increased its stake in Intuit by 4.7% in the 3rd quarter. QRG Capital Management Inc. now owns 36,021 shares of the software maker’s stock worth $22,369,000 after purchasing an additional 1,604 shares during the period. National Pension Service lifted its position in Intuit by 13.5% in the third quarter. National Pension Service now owns 626,313 shares of the software maker’s stock valued at $388,940,000 after purchasing an additional 74,403 shares during the last quarter. Citizens National Bank Trust Department boosted its stake in shares of Intuit by 5.8% during the third quarter. Citizens National Bank Trust Department now owns 2,557 shares of the software maker’s stock valued at $1,588,000 after purchasing an additional 140 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Intuit by 0.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 406,437 shares of the software maker’s stock worth $252,397,000 after purchasing an additional 3,182 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on INTU. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group raised their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Barclays lowered 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. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last quarter. 2.90% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $1.77 during midday trading on Monday, reaching $619.97. 135,449 shares of the company’s stock traded hands, compared to its average volume of 1,311,684. The company has a market cap of $173.77 billion, a P/E ratio of 59.50, a PEG ratio of 2.98 and a beta of 1.25. Intuit Inc. has a 1 year low of $494.35 and a 1 year high of $676.62. The company has a fifty day simple moving average of $622.92 and a two-hundred day simple moving average of $626.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. Equities analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

About Intuit

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.