Principal Securities Inc. Invests $2.98 Million in Intuit Inc. (NASDAQ:INTU)

Principal Securities Inc. bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,770 shares of the software maker's stock, valued at approximately $2,981,000.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. NewSquare Capital LLC acquired a new position in shares of Intuit during the third quarter worth about $25,000. DiNuzzo Private Wealth Inc. acquired a new position in Intuit during the 4th quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new position in Intuit in the 3rd quarter worth approximately $26,000. MCF Advisors LLC boosted its holdings in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker's stock worth $29,000 after acquiring an additional 25 shares during the period. Finally, Aspire Private Capital LLC grew its position in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker's stock valued at $34,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Intuit from $700.00 to $775.00 and gave the company a "positive" rating in a research note on Friday, February 23rd. Evercore ISI boosted their price target on Intuit from $670.00 to $725.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on Intuit from $560.00 to $585.00 and gave the stock a "neutral" rating in a report on Friday, February 23rd. Piper Sandler upped their target price on Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Finally, Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $650.23.

Intuit Stock Performance

NASDAQ INTU traded up $5.45 during trading hours on Friday, hitting $632.31. The company had a trading volume of 917,381 shares, compared to its average volume of 1,173,500. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $635.15 and a 200-day simple moving average of $608.74. The firm has a market cap of $177.05 billion, a P/E ratio of 64.52, a price-to-earnings-growth ratio of 3.86 and a beta of 1.22.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the company earned $1.05 earnings per share. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit's dividend payout ratio (DPR) is 36.73%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company's stock, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last quarter. 2.90% of the stock is owned by company 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.

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