Intuit Inc. (NASDAQ:INTU) Shares Sold by Versor Investments LP

Versor Investments LP decreased its position in Intuit Inc. (NASDAQ:INTU) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,111 shares of the software maker’s stock after selling 195 shares during the quarter. Versor Investments LP’s holdings in Intuit were worth $1,311,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing 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 valued at $1,538,236,000 after purchasing an additional 23,995 shares during the period. Ameriprise Financial Inc. boosted its position in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares during the period. Principal Financial Group Inc. boosted its position in Intuit by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares during the period. Finally, Capital World Investors boosted its position in Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after purchasing an additional 12,068 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays reduced their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Four 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, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.9 %

NASDAQ:INTU opened at $697.35 on Tuesday. The firm has a market capitalization of $195.46 billion, a price-to-earnings ratio of 66.73, a PEG ratio of 3.34 and a beta of 1.25. Intuit Inc. has a 1-year low of $523.32 and a 1-year high of $698.96. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average price is $625.54 and its 200 day moving average price is $627.73.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.60%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s payout ratio is presently 39.81%.

About Intuit

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.