Ninety One SA PTY Ltd Boosts Position in Intuit Inc. (NASDAQ:INTU)

Ninety One SA PTY Ltd lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.6% in the 4th quarter, Holdings Channel reports. The firm owned 8,671 shares of the software maker’s stock after acquiring an additional 689 shares during the period. Ninety One SA PTY Ltd’s holdings in Intuit were worth $5,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewSquare Capital LLC purchased a new position in shares of Intuit during the third quarter worth about $25,000. Cape Investment Advisory Inc. bought a new stake in Intuit in the 3rd quarter worth approximately $26,000. Steward Financial Group LLC lifted its position in Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares during the last quarter. Aspire Private Capital LLC lifted its position in Intuit by 144.4% in the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after buying an additional 39 shares during the last quarter. Finally, Webster Bank N. A. bought a new stake in Intuit in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on INTU shares. Stifel Nicolaus boosted their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Oppenheimer boosted their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Wells Fargo & Company boosted their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Piper Sandler boosted their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Susquehanna boosted their price objective on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Down 0.8 %

INTU stock traded down $4.99 during midday trading on Thursday, hitting $608.22. The stock had a trading volume of 435,916 shares, compared to its average volume of 1,238,556. The firm has a market cap of $170.30 billion, a price-to-earnings ratio of 62.04, a price-to-earnings-growth ratio of 3.72 and a beta of 1.21. The business has a 50-day moving average of $644.88 and a two-hundred day moving average of $598.39. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. As a group, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s payout ratio is 36.73%.

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.