Conestoga Capital Advisors LLC Has $329,000 Stake in Intuit Inc. (NASDAQ:INTU)

Conestoga Capital Advisors LLC held its position in Intuit Inc. (NASDAQ:INTU) during the second quarter, Holdings Channel reports. The institutional investor owned 2,480 shares of the software maker’s stock at the end of the second quarter. Conestoga Capital Advisors LLC’s holdings in Intuit were worth $329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flinton Capital Management LLC boosted its position in Intuit by 39.0% in the first quarter. Flinton Capital Management LLC now owns 9,576 shares of the software maker’s stock worth $1,111,000 after buying an additional 2,688 shares during the last quarter. Cutler Group LP boosted its stake in Intuit by 104.4% in the first quarter. Cutler Group LP now owns 3,286 shares of the software maker’s stock worth $381,000 after buying an additional 1,678 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Intuit by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 718,580 shares of the software maker’s stock worth $83,348,000 after buying an additional 7,343 shares in the last quarter. Whittier Trust Co. boosted its stake in Intuit by 5.2% in the first quarter. Whittier Trust Co. now owns 2,903 shares of the software maker’s stock worth $337,000 after buying an additional 143 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in Intuit by 3.8% in the first quarter. Shell Asset Management Co. now owns 46,600 shares of the software maker’s stock worth $5,405,000 after buying an additional 1,710 shares in the last quarter. 85.29% of the stock is owned by institutional investors.

Intuit Inc. (INTU) traded up 0.36% during midday trading on Monday, hitting $135.33. 102,753 shares of the stock were exchanged. The firm has a 50 day moving average of $137.03 and a 200-day moving average of $125.57. The stock has a market cap of $34.67 billion, a price-to-earnings ratio of 38.89 and a beta of 1.15. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.01%. Intuit’s dividend payout ratio is currently 39.19%.

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INTU has been the subject of a number of research reports. Benchmark Co. initiated coverage on shares of Intuit in a research note on Thursday, April 27th. They set a “buy” rating and a $140.00 target price for the company. Citigroup Inc. boosted their target price on shares of Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Bank of America Corporation boosted their target price on shares of Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Deutsche Bank AG boosted their target price on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, May 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Intuit has a consensus rating of “Buy” and a consensus price target of $172.06.

In other news, EVP Laura A. Fennell sold 74,052 shares of Intuit stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $139.46, for a total transaction of $10,327,291.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 3,742 shares of Intuit stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $137.92, for a total transaction of $516,096.64. Following the sale, the executive vice president now owns 4,580 shares in the company, valued at approximately $631,673.60. The disclosure for this sale can be found here. Insiders have sold 151,265 shares of company stock worth $21,085,104 in the last quarter. Insiders own 5.70% of the company’s stock.

About Intuit

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.

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