Impax Asset Management Group plc Has $13.82 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Impax Asset Management Group plc lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 27.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,248 shares of the software maker’s stock after buying an additional 4,759 shares during the period. Impax Asset Management Group plc’s holdings in Intuit were worth $13,816,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $687.87 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $192.80 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25. The stock has a 50 day moving average of $631.62 and a 200 day moving average of $629.71. Intuit Inc. has a 12 month low of $552.68 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company 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%. Intuit’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders 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 dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 39.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Finally, Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.24.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the 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 of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by company insiders.

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.