Atomi Financial Group Inc. Acquires 257 Shares of Intuit Inc. (NASDAQ:INTU)

Atomi Financial Group Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 11.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,532 shares of the software maker’s stock after acquiring an additional 257 shares during the quarter. Atomi Financial Group Inc.’s holdings in Intuit were worth $1,591,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in INTU. Nordea Investment Management AB raised its holdings in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Harvest Portfolios Group Inc. increased its stake in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC lifted its position in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the last quarter. Retireful LLC acquired a new position in shares of Intuit during the 3rd quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit in the 3rd quarter valued at approximately $56,144,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of a number of research analyst reports. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Jefferies Financial Group boosted 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, November 22nd. Barclays reduced their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $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 sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

NASDAQ INTU opened at $609.41 on Wednesday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a 50 day moving average of $644.23 and a 200-day moving average of $636.37. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $170.59 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

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.