576 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Geneva Partners LLC

Geneva Partners LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 576 shares of the software maker’s stock, valued at approximately $360,000.

Several other hedge funds also recently modified their holdings of the company. Desjardins Global Asset Management Inc. lifted its stake in shares of Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the period. GAM Holding AG boosted its holdings in shares of Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after purchasing an additional 17 shares during the last quarter. Janiczek Wealth Management LLC grew its position in shares of Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after purchasing an additional 17 shares during the period. Clear Harbor Asset Management LLC increased its stake in Intuit by 0.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after purchasing an additional 18 shares during the last quarter. Finally, Glenview Trust co lifted its position in Intuit by 1.9% during the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after buying an additional 19 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. Barclays lifted their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Stifel Nicolaus upped their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Susquehanna increased their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Mizuho increased their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $3.21 during trading on Friday, hitting $605.17. 1,607,538 shares of the company traded hands, compared to its average volume of 1,248,751. 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’s fifty day moving average is $642.93 and its 200-day moving average is $599.06. The stock has a market capitalization of $169.45 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 3.73 and a beta of 1.21. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced 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 yield of 0.59%. Intuit’s dividend payout ratio is presently 36.73%.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate 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.