Aspiriant LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

Aspiriant LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 619 shares of the software maker’s stock, valued at approximately $389,000.

A number of other hedge funds also recently modified their holdings of the stock. Nordea Investment Management AB increased its position in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. GAMMA Investing LLC increased its holdings in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares during the last quarter. Retireful LLC bought a new stake in Intuit in the 3rd quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit during the third quarter valued at about $56,144,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.9 %

NASDAQ INTU opened at $609.41 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $644.23 and its two-hundred day simple moving average is $636.37. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a market capitalization of $170.59 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU – Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is 40.39%.

Insider Activity

In other Intuit 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 sale, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents 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. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. 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 note on Friday, November 22nd. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

View Our Latest Analysis on Intuit

Intuit Profile

(Free Report)

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.

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