Goelzer Investment Management Inc. Decreases Stake in Intuit Inc. (INTU)

Goelzer Investment Management Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,323 shares of the software maker’s stock after selling 123 shares during the period. Goelzer Investment Management Inc.’s holdings in Intuit were worth $309,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC raised its stake in Intuit by 7.3% in the first quarter. Oliver Luxxe Assets LLC now owns 2,654 shares of the software maker’s stock valued at $308,000 after buying an additional 181 shares during the last quarter. Harvest Capital Management Inc raised its stake in Intuit by 3.1% in the first quarter. Harvest Capital Management Inc now owns 2,010 shares of the software maker’s stock valued at $233,000 after buying an additional 60 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Intuit during the first quarter valued at about $522,000. Parametrica Management Ltd bought a new stake in Intuit during the first quarter valued at about $580,000. Finally, Alpha Windward LLC raised its stake in Intuit by 1.1% in the first quarter. Alpha Windward LLC now owns 2,287 shares of the software maker’s stock valued at $265,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 85.18% of the company’s stock.

Shares of Intuit Inc. (NASDAQ INTU) traded down 0.26% during midday trading on Friday, reaching $134.11. The company’s stock had a trading volume of 1,306,185 shares. The stock’s 50-day moving average is $135.05 and its 200-day moving average is $128.38. The company has a market capitalization of $34.36 billion, a P/E ratio of 38.54 and a beta of 1.15. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the firm earned $3.43 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.

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Several equities research analysts have recently issued reports on the company. CIBC raised their price objective on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, May 26th. Barclays PLC lowered their price objective on Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, April 24th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Monday, May 29th. Credit Suisse Group raised their price objective on Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $141.00 price objective (up from $125.00) on shares of Intuit in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Intuit currently has a consensus rating of “Buy” and an average price target of $135.63.

In other news, EVP Daniel A. Wernikoff sold 15,684 shares of the stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,265 shares of company stock worth $21,085,104. Insiders own 5.70% of the company’s stock.

Intuit Company Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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