Intuit Inc. (NASDAQ:INTU) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 11.9% during the third quarter, Holdings Channel.com reports. The fund owned 15,000 shares of the software maker’s stock after acquiring an additional 1,595 shares during the period. Townsquare Capital LLC’s holdings in Intuit were worth $9,315,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in INTU. International Assets Investment Management LLC grew its stake in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after acquiring an additional 483,621 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Intuit during the 2nd quarter worth about $184,982,000. Ameriprise Financial Inc. boosted its stake 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 purchasing an additional 238,486 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after purchasing an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP acquired a new stake in shares of Intuit during the 2nd quarter worth about $107,513,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,265 shares of company stock valued at $83,336,625 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Down 0.4 %

NASDAQ INTU opened at $636.17 on Thursday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company’s 50 day moving average price is $634.52 and its 200 day moving average price is $631.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $178.15 billion, a price-to-earnings ratio of 61.76, a PEG ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Wall Street Analysts Forecast Growth

INTU has been the topic of several analyst reports. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Bank of America raised their price target 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. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Piper Sandler cut their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.