Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Intuit Inc. (NASDAQ:INTU)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intuit Inc. (NASDAQ:INTU) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,823 shares of the software maker’s stock after buying an additional 6,747 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Intuit worth $103,019,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Everence Capital Management Inc. lifted its holdings in shares of Intuit by 44.0% in the fourth quarter. Everence Capital Management Inc. now owns 8,830 shares of the software maker’s stock worth $5,519,000 after buying an additional 2,700 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after buying an additional 16 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in shares of Intuit by 14.8% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 45,116 shares of the software maker’s stock worth $28,199,000 after buying an additional 5,831 shares in the last quarter. Main Street Research LLC purchased a new position in shares of Intuit in the fourth quarter worth $22,793,000. Finally, Marino Stram & Associates LLC purchased a new stake in Intuit during the fourth quarter valued at $226,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on INTU. Barclays upped their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer upped their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Piper Sandler upped their price target on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. KeyCorp upped their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.1 %

INTU stock traded down $0.63 during trading on Tuesday, hitting $611.49. 1,099,254 shares of the company’s stock traded hands, compared to its average volume of 1,249,620. The firm has a market capitalization of $171.22 billion, a P/E ratio of 62.54, a PEG ratio of 3.78 and a beta of 1.21. The business has a fifty day simple moving average of $645.96 and a two-hundred day simple moving average of $597.57. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.05 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

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

Intuit 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.