Intuit Inc. (NASDAQ:INTU) Position Lifted by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 102.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,140 shares of the software maker’s stock after acquiring an additional 95,115 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of Intuit worth $116,835,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC raised its holdings in shares of Intuit by 15.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 10,769 shares of the software maker’s stock worth $7,000,000 after purchasing an additional 1,468 shares during the period. Redwood Investment Management LLC bought a new position in shares of Intuit during the 1st quarter valued at about $344,000. Tidal Investments LLC boosted its position in shares of Intuit by 42.0% during the 1st quarter. Tidal Investments LLC now owns 14,136 shares of the software maker’s stock valued at $9,188,000 after purchasing an additional 4,182 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new position in shares of Intuit in the first quarter worth about $211,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Intuit in the first quarter worth about $131,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

NASDAQ INTU opened at $638.83 on Wednesday. The business’s fifty day moving average is $634.46 and its 200 day moving average is $631.29. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a market capitalization of $178.90 billion, a PE ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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 return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,265 shares of company stock valued at $35,200,125. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.