Sentry Investment Management LLC Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Sentry Investment Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 11.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360 shares of the software maker’s stock after buying an additional 141 shares during the quarter. Sentry Investment Management LLC’s holdings in Intuit were worth $845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Intuit by 1.1% in 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 last quarter. Legal & General Group Plc grew its holdings in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of 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 buying an additional 56,370 shares in the last quarter. Finally, Capital World Investors boosted its position in Intuit by 1.0% during the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after acquiring an additional 12,068 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on INTU shares. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Piper Sandler reissued an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was 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 this hyperlink. In other news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $619.01 on Tuesday. The company has a market cap of $173.50 billion, a P/E ratio of 59.24, a PEG ratio of 3.04 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $494.35 and a fifty-two week high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average price is $622.95 and its 200 day moving average price is $626.71.

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

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s payout ratio is currently 39.81%.

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.