Intuit Inc. (NASDAQ:INTU) Position Reduced by DGS Capital Management LLC

DGS Capital Management LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,038 shares of the software maker’s stock after selling 86 shares during the period. DGS Capital Management LLC’s holdings in Intuit were worth $652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter worth about $27,000. Sugar Maple Asset Management LLC acquired a new position in Intuit in the fourth quarter worth approximately $29,000. Denver PWM LLC acquired a new position in Intuit in the third quarter worth approximately $32,000. Dunhill Financial LLC increased its holdings in shares of Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares in the last quarter. Finally, Groupama Asset Managment lifted its position in shares of Intuit by 10.6% during the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after acquiring an additional 720 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $597.95 on Friday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50-day simple moving average is $638.48 and its 200-day simple moving average is $635.52. The firm has a market cap of $167.38 billion, a price-to-earnings ratio of 58.05, a P/E/G ratio of 3.01 and a beta of 1.25.

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 net margin of 17.59% and a return on equity of 18.25%. 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 prior year, the firm earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. Intuit’s payout ratio is presently 40.39%.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % 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 valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Barclays lowered their price objective 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, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

About Intuit

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.