Intuit Inc. (NASDAQ:INTU) Shares Sold by Praxis Investment Management Inc.

Praxis Investment Management Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 10.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,540 shares of the software maker's stock after selling 770 shares during the quarter. Praxis Investment Management Inc.'s holdings in Intuit were worth $4,015,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NewSquare Capital LLC lifted its stake in 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 lifted its stake in 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 lifted its stake in 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. lifted its stake in 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 lifted its stake in 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. Hedge funds and other institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research reports. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. Piper Sandler restated an "overweight" rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and issued a $742.00 target price (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Finally, HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.

Intuit Stock Up 0.8%

Shares of INTU traded up $6.31 during mid-day trading on Friday, hitting $761.14. The company's stock had a trading volume of 2,631,919 shares, compared to its average volume of 1,610,069. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The company's 50-day moving average is $682.89 and its 200-day moving average is $634.43. 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 firm has a market capitalization of $212.32 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 3.39 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its 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 net margin of 19.07% and a return on equity of 21.46%. The company 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 earnings per share. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.55%. Intuit's payout ratio is 33.77%.

Insider Transactions at Intuit

In other Intuit 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 now directly owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the sale, the executive vice president now owns 40,767 shares of the company's stock, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,321 shares of company stock worth $207,988,705 over the last 90 days. 2.68% of the stock is currently owned by company insiders.

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.