QRG Capital Management Inc. Buys 3,226 Shares of Intuit Inc. (NASDAQ:INTU)

QRG Capital Management Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,419 shares of the software maker's stock after purchasing an additional 3,226 shares during the quarter. QRG Capital Management Inc.'s holdings in Intuit were worth $10,262,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of INTU. Desjardins Global Asset Management Inc. raised its stake in Intuit by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker's stock worth $738,000 after acquiring an additional 16 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker's stock valued at $978,000 after buying an additional 16 shares in the last quarter. GAM Holding AG increased its stake in Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker's stock valued at $3,671,000 after purchasing an additional 17 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker's stock worth $448,000 after purchasing an additional 17 shares during the last quarter. Finally, Clear Harbor Asset Management LLC boosted its position in Intuit by 0.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker's stock worth $3,027,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Up 0.9 %

Shares of INTU stock traded up $5.45 during trading hours on Friday, hitting $632.31. 917,544 shares of the company were exchanged, compared to its average volume of 1,149,357. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The firm has a fifty day moving average of $634.47 and a 200 day moving average of $610.36. The firm has a market cap of $177.05 billion, a PE ratio of 64.52, a PEG ratio of 3.85 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit's dividend payout ratio is presently 36.73%.

Insider Transactions at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company's stock, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 in the last three months. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INTU shares. StockNews.com downgraded Intuit from a "buy" rating to a "hold" rating in a research note on Wednesday. Evercore ISI lifted their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Barclays increased their price target on shares of Intuit from $735.00 to $745.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Piper Sandler raised their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $650.23.

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.