Impax Asset Management Group plc Purchases 4,759 Shares of Intuit Inc. (NASDAQ:INTU)

Impax Asset Management Group plc raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 27.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,248 shares of the software maker’s stock after buying an additional 4,759 shares during the quarter. Impax Asset Management Group plc’s holdings in Intuit were worth $13,816,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. boosted its stake in Intuit by 7.3% in the third quarter. Quintet Private Bank Europe S.A. now owns 54,351 shares of the software maker’s stock valued at $33,752,000 after acquiring an additional 3,703 shares in the last quarter. PDS Planning Inc increased its position in shares of Intuit by 6.2% during the third quarter. PDS Planning Inc now owns 1,277 shares of the software maker’s stock worth $793,000 after purchasing an additional 75 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Intuit by 4.7% during the 3rd quarter. QRG Capital Management Inc. now owns 36,021 shares of the software maker’s stock valued at $22,369,000 after purchasing an additional 1,604 shares during the last quarter. National Pension Service boosted its position in shares of Intuit by 13.5% in the 3rd quarter. National Pension Service now owns 626,313 shares of the software maker’s stock worth $388,940,000 after purchasing an additional 74,403 shares in the last quarter. Finally, Citizens National Bank Trust Department grew its stake in Intuit by 5.8% during the 3rd quarter. Citizens National Bank Trust Department now owns 2,557 shares of the software maker’s stock worth $1,588,000 after buying an additional 140 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU opened at $618.83 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $173.45 billion, a price-to-earnings ratio of 59.22, a PEG ratio of 3.04 and a beta of 1.25. The firm’s 50 day simple moving average is $622.80 and its 200-day simple moving average is $626.81. Intuit Inc. has a 12 month low of $494.35 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Analyst Ratings Changes

A number of research firms have commented on INTU. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents 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. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last three months. 2.90% of the stock is currently owned by company insiders.

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.