Aigen Investment Management LP Trims Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• Aigen Investment Management LP reduced its stake in **Intuit Inc.** by **12.0%**, selling **564 shares** during the 1st quarter, leaving it with **4,142 shares** valued at over **$2.5 million**.
• Institutional investors control **83.66%** of Intuit's stock, with notable movements including Pinnacle Financial Partners increasing its holdings by **3.6%** and Capitolis Liquid Global Markets LLC acquiring a **new position** worth about **$110 million**.
• Analysts have set new price targets for Intuit, with KeyCorp raising its target to **$850**, while Hsbc Global Res upgraded the stock to a **strong-buy** rating, reflecting strong overall confidence in its performance.

Aigen Investment Management LP trimmed its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,142 shares of the software maker's stock after selling 564 shares during the period. Aigen Investment Management LP's holdings in Intuit were worth $2,543,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC lifted its holdings in shares of Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after buying an additional 18 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after buying an additional 18 shares during the last quarter. Chris Bulman Inc raised its position in Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after buying an additional 18 shares during the last quarter. Kolinsky Wealth Management LLC grew its stake in shares of Intuit by 1.6% during the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock worth $749,000 after purchasing an additional 19 shares during the period. Finally, Norden Group LLC grew its stake in Intuit by 1.2% in the 1st quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock valued at $1,021,000 after acquiring an additional 19 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Evercore ISI lifted their price target on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, CLSA initiated coverage on Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer owned 197 shares of the company's stock, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,800 shares of company stock worth $209,725,054. Insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of INTU traded up $7.39 during mid-day trading on Tuesday, reaching $713.48. 2,145,981 shares of the stock traded hands, compared to its average volume of 1,558,207. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market cap of $199.03 billion, a price-to-earnings ratio of 57.91, a price-to-earnings-growth ratio of 2.72 and a beta of 1.28. The firm has a fifty day moving average price of $768.10 and a 200 day moving average price of $668.87.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.88 earnings per share. As a group, equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Intuit Company 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.