Intuit Inc. $INTU Shares Sold by Qtron Investments LLC

Key Points

• Qtron Investments LLC reduced its holdings in Intuit Inc. by 14.7% in Q1, owning 3,059 shares valued at approximately $1.88 million.
• Intuit reported an earnings per share (EPS) of $11.65 for the latest quarter, exceeding expectations and showing a 15.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $1.04, leading to an annualized dividend yield of 0.6%, reflecting a payout ratio of 33.77%.

Qtron Investments LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 14.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,059 shares of the software maker's stock after selling 529 shares during the period. Qtron Investments LLC's holdings in Intuit were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Financial Management Professionals Inc. raised its position in shares of Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after acquiring an additional 18 shares during the period. Chris Bulman Inc raised its position in shares of Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after acquiring an additional 18 shares during the period. Kolinsky Wealth Management LLC raised its position in shares of Intuit by 1.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock worth $749,000 after acquiring an additional 19 shares during the period. Norden Group LLC raised its position in shares of Intuit by 1.2% in the first quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock worth $1,021,000 after acquiring an additional 19 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Intuit by 2.6% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 791 shares of the software maker's stock worth $486,000 after acquiring an additional 20 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 0.9%

Shares of NASDAQ INTU opened at $716.74 on Monday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The stock has a market cap of $199.93 billion, a PE ratio of 58.18, a P/E/G ratio of 2.76 and a beta of 1.28. 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 50-day moving average of $763.75 and a 200 day moving average of $672.00.

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

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. Intuit's dividend payout ratio is 33.77%.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. KeyCorp restated an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and set a $825.00 price target (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Barclays restated an "overweight" rating and set a $815.00 price target (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $809.86.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 2,591 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the sale, the chief financial officer owned 768 shares of the company's stock, valued at $600,744.96. This represents a 77.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares of the company's stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by company insiders.

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.

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