Intuit Inc. (NASDAQ:INTU) Position Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,137 shares of the software maker's stock after buying an additional 370 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Intuit worth $168,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Legacy Investment Solutions LLC boosted its stake in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after acquiring an additional 18 shares in the last quarter. Financial Management Professionals Inc. boosted its position in Intuit by 18.4% during the first 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. Chris Bulman Inc grew its holdings in Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares during the last quarter. Plancorp LLC increased its position in shares of Intuit by 2.2% in the fourth quarter. Plancorp LLC now owns 889 shares of the software maker's stock valued at $559,000 after buying an additional 19 shares in the last quarter. Finally, Kolinsky Wealth Management LLC raised its stake in shares of Intuit by 1.6% during the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock worth $749,000 after buying an additional 19 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer directly owned 197 shares of the company's stock, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the transaction, the executive vice president owned 22,796 shares in the company, valued at $17,148,291. This represents a 52.94% decrease in their position. 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 ninety days. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Down 0.4%

Shares of NASDAQ INTU traded down $2.74 during midday trading on Friday, hitting $752.63. The stock had a trading volume of 1,504,861 shares, compared to its average volume of 1,790,101. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The company has a market capitalization of $209.95 billion, a price-to-earnings ratio of 61.09, a PEG ratio of 3.33 and a beta of 1.27. The company has a fifty day moving average price of $742.02 and a 200 day moving average price of $649.76.

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

Intuit Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on INTU. Barclays restated an "overweight" rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Stifel Nicolaus upped their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Piper Sandler reiterated an "overweight" rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price target on Intuit and gave the stock a "buy" rating 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $800.55.

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.