Brasada Capital Management LP Buys 103 Shares of Intuit Inc. (INTU)

Brasada Capital Management LP increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,538 shares of the software maker’s stock after purchasing an additional 103 shares during the quarter. Brasada Capital Management LP’s holdings in Intuit were worth $500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Securian Asset Management Inc lifted its holdings in shares of Intuit by 6.2% during the third quarter. Securian Asset Management Inc now owns 26,699 shares of the software maker’s stock worth $6,071,000 after purchasing an additional 1,562 shares during the period. Coastline Trust Co lifted its holdings in shares of Intuit by 6.7% during the fourth quarter. Coastline Trust Co now owns 3,180 shares of the software maker’s stock worth $626,000 after purchasing an additional 200 shares during the period. Oakworth Capital Inc. lifted its holdings in shares of Intuit by 2,480.0% during the third quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock worth $117,000 after purchasing an additional 496 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Intuit by 3.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 131,409 shares of the software maker’s stock worth $25,868,000 after purchasing an additional 4,038 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Intuit by 16.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock worth $77,000 after purchasing an additional 56 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Sasan K. Goodarzi sold 85,835 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $196.74, for a total value of $16,887,177.90. Following the completion of the transaction, the executive vice president now owns 90,837 shares in the company, valued at $17,871,271.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Scott D. Cook sold 152,001 shares of the firm’s stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $197.41, for a total value of $30,006,517.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 347,207 shares of company stock valued at $68,710,900. Company insiders own 4.60% of the company’s stock.

INTU has been the subject of several recent research reports. Royal Bank of Canada downgraded Intuit from an “outperform” rating to a “sector perform” rating and set a $197.05 price target for the company. in a report on Sunday, December 2nd. JPMorgan Chase & Co. downgraded Intuit from a “neutral” rating to an “underweight” rating and set a $205.00 target price for the company. in a report on Thursday, December 13th. Credit Suisse Group reissued an “outperform” rating and issued a $255.00 target price (up previously from $250.00) on shares of Intuit in a report on Tuesday, January 22nd. Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $212.00 target price on shares of Intuit in a report on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $225.63.

Intuit stock opened at $228.96 on Wednesday. Intuit Inc. has a one year low of $155.02 and a one year high of $231.84. The firm has a market capitalization of $58.72 billion, a price-to-earnings ratio of 50.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.41 and a quick ratio of 1.41.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 19th. The software maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.18. Intuit had a return on equity of 56.35% and a net margin of 20.71%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $971.45 million. During the same quarter last year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 5.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 18th. Stockholders of record on Thursday, January 10th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Wednesday, January 9th. Intuit’s dividend payout ratio is currently 41.50%.

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About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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