Veracity Capital LLC Acquires 62 Shares of Intuit Inc. (NASDAQ:INTU)

Veracity Capital LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 8.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 772 shares of the software maker’s stock after buying an additional 62 shares during the period. Veracity Capital LLC’s holdings in Intuit were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in Intuit during the third quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $29,000. Denver PWM LLC bought a new position in shares of Intuit during the 3rd quarter valued at approximately $32,000. Dunhill Financial LLC raised its holdings in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares during the period. Finally, Groupama Asset Managment lifted its position in Intuit by 10.6% in the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after buying an additional 720 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTU shares. Jefferies Financial Group boosted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of INTU stock opened at $598.30 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. 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 $167.48 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 3.00 and a beta of 1.25. The stock’s 50-day simple moving average is $640.53 and its 200-day simple moving average is $635.79.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit’s dividend payout ratio is currently 40.39%.

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.