Intuit Inc. (NASDAQ:INTU) Position Boosted by Metis Global Partners LLC

Key Points

• Metis Global Partners LLC increased its stake in Intuit Inc. by 14.8%, owning a total of 17,851 shares valued at approximately $10.96 million as of its latest SEC filing.
• Insider transactions included CFO Sandeep Aujla selling 2,591 shares, marking a 77.14% decrease in his position, while a total of 279,800 shares valued at over $209 million were sold by insiders in the last quarter.
• Analyst ratings for Intuit remain favorable, with an average target price of $800.55 and significant upgrades from firms like JPMorgan and HSBC, suggesting a strong potential for growth.

Metis Global Partners LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 14.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,851 shares of the software maker's stock after purchasing an additional 2,297 shares during the quarter. Metis Global Partners LLC's holdings in Intuit were worth $10,960,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Copia Wealth Management bought a new position in shares of Intuit in the fourth quarter worth about $25,000. Summit Securities Group LLC bought a new position in shares of Intuit in the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth about $28,000. Olde Wealth Management LLC bought a new position in shares of Intuit in the first quarter worth about $37,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Intuit by 523.1% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INTU. Oppenheimer raised their price objective on shares of Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a report on Monday. Bank of America raised their price objective on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. BMO Capital Markets raised their price objective on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Intuit Stock Performance

Intuit stock traded down $18.93 during trading hours on Thursday, hitting $788.47. 837,040 shares of the stock traded hands, compared to its average volume of 1,770,059. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm's 50 day moving average price is $763.60 and its 200-day moving average price is $659.50. The stock has a market capitalization of $219.94 billion, a price-to-earnings ratio of 64.07, a P/E/G ratio of 3.58 and a beta of 1.27. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70.

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 the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $9.88 earnings per share. As a group, equities analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the transaction, the executive vice president owned 19 shares in the company, valued at $14,704.10. The trade was a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 2,591 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer owned 768 shares in the company, valued at $600,744.96. This trade represents a 77.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by 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.