Zevenbergen Capital Investments LLC Sells 410 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Zevenbergen Capital Investments LLC reduced its holdings in Intuit by 1.6%, owning 25,801 shares valued at approximately $15.84 million after selling 410 shares.
• Insider activity saw CAO Lauren D. Hotz selling 1,738 shares, representing a significant decrease in their ownership by 79.25%, while EVP Mark P. Notarainni also sold 1,147 shares, reducing ownership by 98.37%.
• Intuit's most recent quarterly earnings report showed revenue growth of 15.1% year-over-year, with $11.65 EPS surpassing estimates, and the company recently paid a dividend of $1.04 per share.

Zevenbergen Capital Investments LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,801 shares of the software maker's stock after selling 410 shares during the period. Zevenbergen Capital Investments LLC's holdings in Intuit were worth $15,842,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INTU. Brighton Jones LLC raised its stake in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after acquiring an additional 1,350 shares during the period. Revolve Wealth Partners LLC raised its stake in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after acquiring an additional 482 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after acquiring an additional 248 shares during the period. FIL Ltd grew its holdings in Intuit by 38.9% in the 4th quarter. FIL Ltd now owns 1,592 shares of the software maker's stock valued at $1,001,000 after buying an additional 446 shares in the last quarter. Finally, Scotia Capital Inc. increased its position in Intuit by 5.4% during the 4th quarter. Scotia Capital Inc. now owns 4,963 shares of the software maker's stock worth $3,119,000 after buying an additional 256 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,738 shares of Intuit 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 directly owned 455 shares of the company's stock, valued at approximately $356,760.95. This trade represents a 79.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. The trade was a 98.37% 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 currently owned by company insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $749.00 on Friday. The stock's 50-day simple moving average is $769.27 and its 200 day simple moving average is $667.63. The firm has a market capitalization of $208.93 billion, a PE ratio of 60.80, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28. 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 twelve month low of $532.65 and a twelve 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, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the firm posted $9.88 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INTU. UBS Group set a $750.00 price objective on Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Piper Sandler reiterated 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. Evercore ISI increased their price objective on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and set a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price objective on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average 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.

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