Townsquare Capital LLC Acquires 1,160 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Townsquare Capital LLC increased its stake in Intuit Inc. by 7.0% during the first quarter, owning approximately $10.92 million worth of shares as of their latest SEC filing.
• Several analysts have raised their price targets on Intuit, with Piper Sandler setting it at $825 and Morgan Stanley at $900, as the stock maintains a consensus rating of "Moderate Buy."
• Intuit's latest quarterly earnings exceeded expectations, reporting a $11.65 EPS on revenues of $7.75 billion, reflecting a 15.1% year-over-year growth.

Townsquare Capital LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,781 shares of the software maker's stock after acquiring an additional 1,160 shares during the quarter. Townsquare Capital LLC's holdings in Intuit were worth $10,918,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Founders Financial Alliance LLC boosted its stake in Intuit by 35.8% in the 1st quarter. Founders Financial Alliance LLC now owns 937 shares of the software maker's stock worth $575,000 after purchasing an additional 247 shares during the period. Keystone Investors PTE Ltd. purchased a new stake in shares of Intuit in the 1st quarter valued at about $2,955,000. NS Partners Ltd boosted its position in shares of Intuit by 0.7% during the 1st quarter. NS Partners Ltd now owns 100,843 shares of the software maker's stock valued at $61,917,000 after acquiring an additional 703 shares during the last quarter. Savvy Advisors Inc. boosted its position in shares of Intuit by 4.5% during the 1st quarter. Savvy Advisors Inc. now owns 3,177 shares of the software maker's stock valued at $1,951,000 after acquiring an additional 136 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Intuit by 74.7% during the 1st quarter. National Bank of Canada FI now owns 409,005 shares of the software maker's stock valued at $251,124,000 after acquiring an additional 174,847 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Trading Down 5.7%

Intuit stock traded down $42.91 during trading hours on Monday, reaching $706.09. The company had a trading volume of 3,194,702 shares, compared to its average volume of 1,454,196. 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 company has a 50-day moving average price of $769.27 and a 200 day moving average price of $668.11. The firm has a market cap of $196.96 billion, a price-to-earnings ratio of 57.31, a P/E/G ratio of 2.89 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for 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 quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $9.88 EPS. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a dividend of $1.04 per share. 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 payout ratio is 33.77%.

Insider Activity

In related news, CFO Sandeep Aujla sold 16,061 shares of Intuit 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 sale, the chief financial officer directly owned 197 shares in the company, valued at $143,047.61. The trade was a 98.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the sale, the executive vice president owned 40,767 shares in the company, valued at $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. In the last ninety days, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTU. BMO Capital Markets lifted their price target on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley lifted their price target on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Barclays reiterated 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 equities 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit Company 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.