Gemmer Asset Management LLC Sells 87 Shares of Intuit Inc. (NASDAQ:INTU)

Gemmer Asset Management LLC trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393 shares of the software maker’s stock after selling 87 shares during the quarter. Gemmer Asset Management LLC’s holdings in Intuit were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after buying an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC bought a new stake in Intuit in the 4th quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Intuit in the 4th quarter worth $237,244,000. V Square Quantitative Management LLC increased its position in shares of Intuit by 7.0% in the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock valued at $4,821,000 after acquiring an additional 501 shares during the period. Finally, Alberta Investment Management Corp bought a new position in shares of Intuit during the fourth quarter valued at about $10,757,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $13,775. This represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,592 shares of company stock valued at $165,325,437 in the last ninety days. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $771.58 on Friday. The company has a 50 day simple moving average of $646.24 and a two-hundred day simple moving average of $626.38. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The company has a market capitalization of $215.23 billion, a price-to-earnings ratio of 74.91, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the firm posted $9.88 EPS. Intuit’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit’s dividend payout ratio is presently 33.77%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INTU. UBS Group set a $750.00 target price on Intuit and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $825.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. Barclays reaffirmed an “overweight” rating and issued a $815.00 price target (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $785.00 price objective (up from $720.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Company 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.