IFM Investors Pty Ltd Purchases 108 Shares of Intuit Inc. (NASDAQ:INTU)

IFM Investors Pty Ltd raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,155 shares of the software maker’s stock after buying an additional 108 shares during the quarter. IFM Investors Pty Ltd’s holdings in Intuit were worth $37,356,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the 2nd quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 0.4 %

Shares of Intuit stock traded up $2.20 on Thursday, reaching $604.21. 326,640 shares of the company were exchanged, compared to its average volume of 1,316,749. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a market capitalization of $168.91 billion, a price-to-earnings ratio of 55.54, a PEG ratio of 3.04 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $628.71 and a 200 day moving average of $627.16.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

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.