Empirical Asset Management LLC grew its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,822 shares of the software maker’s stock after purchasing an additional 449 shares during the period. Empirical Asset Management LLC’s holdings in Intuit were worth $4,236,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in INTU. SG Americas Securities LLC boosted its position in Intuit by 940.4% during the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after buying an additional 285,328 shares during the period. Vanguard Group Inc. boosted its position in Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Intuit during the 2nd quarter worth approximately $184,982,000. Ameriprise Financial Inc. boosted its position in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after buying an additional 169,190 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently commented on INTU. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Jefferies Financial Group lifted their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.
Insider Buying and Selling
In related news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by insiders.
Intuit Stock Up 0.3 %
INTU traded up $1.84 during mid-day trading on Monday, reaching $618.52. 76,403 shares of the stock were exchanged, compared to its average volume of 1,322,826. 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 stock has a market capitalization of $172.91 billion, a PE ratio of 56.89, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The company has a 50 day moving average price of $630.68 and a two-hundred day moving average price of $628.44. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62.
Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. As a group, research analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.
Intuit Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is 38.38%.
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.
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