Gordian Advisors LLC Invests $373,000 in Intuit Inc. (NASDAQ:INTU)

Gordian Advisors LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 600 shares of the software maker’s stock, valued at approximately $373,000. Intuit comprises about 0.3% of Gordian Advisors LLC’s investment portfolio, making the stock its 24th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the second quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the second quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Stifel Nicolaus raised their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 over the last three months. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of INTU traded up $35.66 during mid-day trading on Wednesday, reaching $654.49. 439,162 shares of the company’s stock were exchanged, compared to its average volume of 1,313,531. The business’s fifty day simple moving average is $622.80 and its 200-day simple moving average is $626.81. Intuit Inc. has a 52-week low of $506.97 and a 52-week high of $676.62. The stock has a market capitalization of $183.45 billion, a PE ratio of 59.22, a price-to-earnings-growth ratio of 3.04 and a beta of 1.25. 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 posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business posted $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 39.81%.

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.