AustralianSuper Pty Ltd Cuts Stake in Intuit Inc. (NASDAQ:INTU)

AustralianSuper Pty Ltd lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 8.4% during the third quarter, Holdings Channel.com reports. The firm owned 336,536 shares of the software maker’s stock after selling 30,902 shares during the quarter. Intuit makes up about 1.0% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 25th biggest position. AustralianSuper Pty Ltd’s holdings in Intuit were worth $208,989,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in INTU. SeaCrest Wealth Management LLC raised its stake in shares of Intuit by 18.5% in the first quarter. SeaCrest Wealth Management LLC now owns 616 shares of the software maker’s stock worth $400,000 after purchasing an additional 96 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Intuit by 17.0% in the first quarter. Ashton Thomas Private Wealth LLC now owns 5,708 shares of the software maker’s stock valued at $3,710,000 after buying an additional 829 shares in the last quarter. Norden Group LLC boosted its stake in shares of Intuit by 63.3% in the first quarter. Norden Group LLC now owns 1,607 shares of the software maker’s stock worth $1,044,000 after acquiring an additional 623 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Intuit by 61.9% during the first quarter. J.W. Cole Advisors Inc. now owns 1,099 shares of the software maker’s stock worth $708,000 after buying an additional 420 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Intuit during the first quarter worth $3,338,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock traded down $6.63 during mid-day trading on Thursday, reaching $614.48. 249,078 shares of the company were exchanged, compared to its average volume of 1,310,838. Intuit Inc. has a twelve month low of $481.94 and a twelve month high of $676.62. The firm’s 50-day simple moving average is $623.98 and its two-hundred day simple moving average is $626.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $171.78 billion, a PE ratio of 57.30, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INTU shares. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Susquehanna restated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Bank of America upped their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

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.