Intuit Inc. (NASDAQ:INTU) Stake Raised by Holocene Advisors LP

Holocene Advisors LP boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 99.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 625,583 shares of the software maker’s stock after acquiring an additional 312,212 shares during the quarter. Intuit accounts for approximately 1.6% of Holocene Advisors LP’s investment portfolio, making the stock its 4th biggest position. Holocene Advisors LP’s holdings in Intuit were worth $388,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the second quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new position in Intuit during the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Piper Sandler dropped their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Performance

Shares of INTU opened at $642.10 on Monday. The stock has a market capitalization of $179.81 billion, a P/E ratio of 62.30, a P/E/G ratio of 3.17 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The firm’s 50 day moving average is $634.10 and its 200-day moving average is $631.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted 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 firm 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 company earned $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.65%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 2,461 shares of the firm’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 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 approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing 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 that occurred 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 of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,265 shares of company stock worth $83,336,625. 2.90% of the stock is owned by company insiders.

Intuit Company 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.