Xponance Inc. Sells 148 Shares of Intuit Inc. (NASDAQ:INTU)

Xponance Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,978 shares of the software maker’s stock after selling 148 shares during the quarter. Xponance Inc.’s holdings in Intuit were worth $38,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after purchasing an additional 117,478 shares during the period. State Street Corp grew its holdings in Intuit by 1.9% during the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after buying an additional 210,246 shares in the last quarter. FMR LLC grew its holdings in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares in the last quarter. Morgan Stanley grew its holdings in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after buying an additional 137,198 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Intuit by 5.2% during the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after buying an additional 160,229 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 280 shares of the company’s 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 have sold 4,717 shares of company stock valued at $3,117,156 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.8 %

NASDAQ INTU traded down $4.83 on Thursday, reaching $608.38. 773,735 shares of the stock traded hands, compared to its average volume of 1,240,533. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a fifty day moving average price of $644.88 and a 200-day moving average price of $598.39. The company has a market cap of $170.35 billion, a price-to-earnings ratio of 62.04, a PEG ratio of 3.72 and a beta of 1.21. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. During the same period in the previous year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Analysts Set New Price Targets

Several research firms have weighed in on INTU. Susquehanna raised their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Evercore ISI lifted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, Piper Sandler lifted their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

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.