Pacer Advisors Inc. Has $26.52 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Pacer Advisors Inc. grew its position in Intuit Inc. (NASDAQ:INTU) by 5.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,193 shares of the software maker’s stock after buying an additional 1,997 shares during the period. Pacer Advisors Inc.’s holdings in Intuit were worth $26,518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Center For Asset Management LLC acquired a new position in Intuit during the 4th quarter valued at about $269,000. United Asset Strategies Inc. boosted its stake in Intuit by 6.3% in the fourth quarter. United Asset Strategies Inc. now owns 1,906 shares of the software maker’s stock valued at $1,198,000 after acquiring an additional 113 shares during the last quarter. Atticus Wealth Management LLC grew its holdings in Intuit by 7.5% during the 4th quarter. Atticus Wealth Management LLC now owns 562 shares of the software maker’s stock worth $353,000 after acquiring an additional 39 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Intuit during the 4th quarter valued at $104,278,000. Finally, Apexium Financial LP acquired a new position in shares of Intuit in the 4th quarter valued at $248,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

NASDAQ:INTU opened at $606.62 on Tuesday. The stock has a market capitalization of $169.81 billion, a PE ratio of 58.90, a P/E/G ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a fifty day simple moving average of $636.69 and a 200 day simple moving average of $635.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. On average, research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INTU shares. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $726.53.

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.