1,657 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Stevens Capital Management LP

Stevens Capital Management LP purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,657 shares of the software maker’s stock, valued at approximately $1,029,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit during the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit during the second quarter valued at approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INTU shares. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Piper Sandler reduced their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating 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’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. This represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 118,324 shares of company stock valued at $75,803,690. 2.68% of the stock is owned by insiders.

Intuit Stock Performance

INTU stock opened at $654.64 on Thursday. The company has a market capitalization of $183.25 billion, a P/E ratio of 63.56, a PEG ratio of 3.14 and a beta of 1.24. The company has a 50-day simple moving average of $634.29 and a 200 day simple moving average of $631.12. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted 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. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is 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.