Arcus Capital Partners LLC Acquires Shares of 1,143 Intuit Inc. (NASDAQ:INTU)

Arcus Capital Partners LLC purchased a new position in Intuit Inc. (NASDAQ:INTU) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,143 shares of the software maker’s stock, valued at approximately $710,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares during the period. Legal & General Group Plc boosted its position in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the period. Ameriprise Financial Inc. raised its position in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Principal Financial Group Inc. lifted its position in Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares during the period. Finally, Capital World Investors raised its stake in shares of Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after buying an additional 12,068 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of Intuit stock opened at $697.35 on Tuesday. The company has a 50-day simple moving average of $626.88 and a two-hundred day simple moving average of $628.23. Intuit Inc. has a twelve month low of $523.32 and a twelve month high of $698.96. The stock has a market capitalization of $195.46 billion, a price-to-earnings ratio of 66.73, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. Analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is currently 39.81%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Finally, BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. Insiders own 2.90% of the company’s stock.

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.