SRN Advisors LLC Has $864,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

SRN Advisors LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,392 shares of the software maker’s stock after selling 48 shares during the quarter. SRN Advisors LLC’s holdings in Intuit were worth $864,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INTU. Vanguard Group Inc. boosted its stake in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after purchasing an additional 12,068 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 0.9 %

INTU opened at $609.27 on Friday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a fifty day moving average of $626.86 and a 200-day moving average of $626.63. The stock has a market cap of $170.77 billion, a PE ratio of 58.30, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results 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. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is 39.81%.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated 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 sale, 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 have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada initiated coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit 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.