Bailard Inc. Decreases Position in Intuit Inc. (NASDAQ:INTU)

Bailard Inc. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,155 shares of the software maker’s stock after selling 932 shares during the period. Bailard Inc.’s holdings in Intuit were worth $11,347,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Parnassus Investments LLC grew its stake in Intuit by 42,268.5% in the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares in the last quarter. Wellington Management Group LLP grew its stake in Intuit by 61.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after buying an additional 514,259 shares in the last quarter. International Assets Investment Management LLC grew its stake in Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares in the last quarter. FMR LLC grew its stake in Intuit by 5.0% in 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. Finally, AustralianSuper Pty Ltd grew its stake in Intuit by 56.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after buying an additional 222,317 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the business’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 transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated 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 owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Up 0.7 %

NASDAQ:INTU traded up $4.61 during trading hours on Wednesday, reaching $635.49. The company’s stock had a trading volume of 1,376,556 shares, compared to its average volume of 1,250,610. The firm has a market capitalization of $177.94 billion, a price-to-earnings ratio of 64.85, a PEG ratio of 3.71 and a beta of 1.21. The firm has a 50-day simple moving average of $641.40 and a 200-day simple moving average of $601.86. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. Research analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently weighed in on INTU shares. Piper Sandler lifted 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. Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Company raised their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

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.