Mesirow Financial Investment Management Inc. Has $922,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Mesirow Financial Investment Management Inc. grew its stake in Intuit Inc. (NASDAQ:INTU) by 15.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,483 shares of the software maker’s stock after purchasing an additional 197 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Intuit were worth $922,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Sustainable Insight Capital Management LLC bought a new stake in shares of Intuit during the third quarter worth approximately $294,000. Atria Investments Inc increased its position in Intuit by 3.0% during the third quarter. Atria Investments Inc now owns 28,213 shares of the software maker’s stock worth $17,520,000 after acquiring an additional 821 shares during the period. First Personal Financial Services boosted its holdings in Intuit by 9.0% in the 3rd quarter. First Personal Financial Services now owns 5,361 shares of the software maker’s stock valued at $3,329,000 after purchasing an additional 444 shares during the period. Oxbow Advisors LLC increased its holdings in shares of Intuit by 16.3% during the third quarter. Oxbow Advisors LLC now owns 520 shares of the software maker’s stock worth $323,000 after purchasing an additional 73 shares during the period. Finally, Assetmark Inc. grew its position in Intuit by 10.9% during the third quarter. Assetmark Inc. now owns 62,095 shares of the software maker’s stock worth $38,561,000 after buying an additional 6,098 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 1.9 %

INTU stock opened at $697.35 on Tuesday. The business’s 50 day moving average price is $625.54 and its two-hundred day moving average price is $627.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $195.46 billion, a price-to-earnings ratio of 66.73, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $523.32 and a fifty-two week high of $698.96.

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

Intuit Increases Dividend

The company also recently declared 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 represents a $4.16 annualized dividend and a dividend yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTU. Stifel Nicolaus upped their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $735.71.

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.