Segall Bryant & Hamill LLC Takes $10.36 Million Position in Intuit Inc. (NASDAQ:INTU)

Segall Bryant & Hamill LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,874 shares of the software maker's stock, valued at approximately $10,360,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital A Wealth Management LLC lifted its stake in shares of Intuit by 17.7% in the 1st quarter. Capital A Wealth Management LLC now owns 479 shares of the software maker's stock valued at $294,000 after purchasing an additional 72 shares during the period. Bridgewater Advisors Inc. bought a new position in shares of Intuit during the 1st quarter worth approximately $1,007,000. Kornitzer Capital Management Inc. KS grew its position in shares of Intuit by 1.0% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 3,927 shares of the software maker's stock worth $2,411,000 after buying an additional 37 shares during the period. Concord Asset Management LLC VA grew its position in shares of Intuit by 47.0% during the 1st quarter. Concord Asset Management LLC VA now owns 2,763 shares of the software maker's stock worth $1,647,000 after buying an additional 884 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of Intuit by 109.6% during the 1st quarter. Larson Financial Group LLC now owns 436 shares of the software maker's stock valued at $268,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INTU shares. Piper Sandler reissued an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. CLSA assumed coverage on Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit has a consensus rating of "Moderate Buy" and a consensus target price of $800.55.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the sale, the chief accounting officer owned 455 shares in the company, valued at $356,760.95. This trade represents a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the transaction, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock worth $209,725,054 in the last three months. 2.68% of the stock is owned by insiders.

Intuit Price Performance

NASDAQ:INTU traded down $2.74 during trading hours on Friday, hitting $752.63. The stock had a trading volume of 1,504,966 shares, compared to its average volume of 1,624,458. The firm has a market capitalization of $209.95 billion, a price-to-earnings ratio of 61.09, a P/E/G ratio of 3.35 and a beta of 1.27. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The company has a 50 day simple moving average of $742.02 and a two-hundred day simple moving average of $649.76. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

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, topping the consensus estimate of $10.89 by $0.76. The business 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 firm's revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $9.88 earnings per share. Research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

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.