Intuit Inc. (NASDAQ:INTU) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,890 shares of the software maker’s stock after acquiring an additional 34 shares during the period. Penserra Capital Management LLC’s holdings in Intuit were worth $1,793,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit during the second quarter worth about $26,000. Fairway Wealth LLC purchased a new position in Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of the business’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 owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock worth $35,200,125 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.9 %

Intuit stock opened at $634.62 on Tuesday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $177.77 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. The firm has a 50-day moving average price of $634.58 and a two-hundred day moving average price of $631.24.

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, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on INTU shares. Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday. Piper Sandler decreased their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.