Intuit Inc. (NASDAQ:INTU) Stake Lowered by Thematics Asset Management

Thematics Asset Management decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 20.9% in the third quarter, Holdings Channel.com reports. The firm owned 11,478 shares of the software maker’s stock after selling 3,033 shares during the period. Thematics Asset Management’s holdings in Intuit were worth $7,128,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INTU. LGT Financial Advisors LLC bought a new stake in Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the second quarter worth $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter valued at about $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.1 %

Shares of INTU stock traded down $0.49 on Tuesday, reaching $634.13. 179,831 shares of the stock were exchanged, compared to its average volume of 1,359,076. The stock has a 50 day moving average price of $634.58 and a 200 day moving average price of $631.24. The stock has a market cap of $177.63 billion, a PE ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Intuit’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of the firm’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 sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock worth $35,200,125 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on INTU shares. Bank of America raised their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday. Jefferies Financial Group boosted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler decreased their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $737.44.

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.