Cadence Bank Invests $1.60 Million in Intuit Inc. (NASDAQ:INTU)

Cadence Bank acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,573 shares of the software maker’s stock, valued at approximately $1,598,000.

Other large investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new position in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit during the 2nd quarter worth $35,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % 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 business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 130,265 shares of company stock worth $83,336,625 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INTU. Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Trading Down 0.4 %

INTU stock opened at $636.17 on Thursday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $634.52 and its 200-day moving average is $631.32. The firm has a market cap of $178.15 billion, a P/E ratio of 61.76, a P/E/G ratio of 3.14 and a beta of 1.25.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

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.