Elser Financial Planning Inc acquired a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 430 shares of the software maker's stock, valued at approximately $264,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Ethos Financial Group LLC boosted its holdings in shares of Intuit by 3.7% in the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after purchasing an additional 18 shares in the last quarter. Legacy Investment Solutions LLC boosted its holdings in shares of Intuit by 18.0% in the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after purchasing an additional 18 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares in the last quarter. Finally, Chris Bulman Inc boosted its holdings in shares of Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently weighed in on INTU. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. Evercore ISI increased their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. increased their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.
View Our Latest Report on Intuit
Insiders Place Their Bets
In other news, CFO Sandeep Aujla sold 16,061 shares of the company'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 now owns 197 shares of the company's stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 469 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $13,775. This represents a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,321 shares of company stock valued at $207,988,705 over the last ninety days. 2.68% of the stock is owned by insiders.
Intuit Price Performance
NASDAQ:INTU opened at $761.14 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The business's 50-day simple moving average is $682.89 and its two-hundred day simple moving average is $634.57. The stock has a market cap of $212.32 billion, a PE ratio of 61.78, a P/E/G ratio of 3.36 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45.
Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm earned $9.88 earnings per share. The business's quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.
Intuit Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's payout ratio is currently 33.77%.
About Intuit
(
Free Report)
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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