National Pension Service Purchases 74,403 Shares of Intuit Inc. (NASDAQ:INTU)

National Pension Service increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 626,313 shares of the software maker’s stock after purchasing an additional 74,403 shares during the period. National Pension Service owned about 0.22% of Intuit worth $388,940,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC increased its holdings in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co raised its position in Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the period. Stonebrook Private Inc. boosted its holdings in Intuit by 4.5% during the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after purchasing an additional 17 shares in the last quarter. Finally, PFG Investments LLC grew its stake in shares of Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INTU. JPMorgan Chase & Co. raised their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group boosted their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. 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, Stifel Nicolaus upped their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Price Performance

Intuit stock opened at $621.74 on Monday. The firm has a market capitalization of $174.27 billion, a P/E ratio of 59.50, a PEG ratio of 2.98 and a beta of 1.25. The business has a 50-day moving average of $622.92 and a 200-day moving average of $626.64. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 1 year low of $489.55 and a 1 year high of $676.62.

Intuit (NASDAQ:INTU) last issued its 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 firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is an increase 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 39.81%.

Insider Buying and Selling at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intuit news, insider Scott D. Cook sold 2,461 shares of the company’s 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate 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.