PAX Financial Group LLC Has $892,000 Position in Intuit Inc. (NASDAQ:INTU)

by · The Cerbat Gem

PAX Financial Group LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,420 shares of the software maker’s stock after purchasing an additional 65 shares during the period. PAX Financial Group LLC’s holdings in Intuit were worth $892,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INTU. R Squared Ltd acquired a new position in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit during the 4th quarter valued at approximately $28,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,862 shares of company stock valued at $18,767,673. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 3.6 %

Shares of NASDAQ:INTU opened at $598.53 on Friday. The company has a market capitalization of $167.33 billion, a PE ratio of 58.11, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s fifty day moving average is $596.37 and its 200-day moving average is $621.54. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit’s dividend payout ratio is 38.81%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Scotiabank cut their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $718.00.

View Our Latest Report on INTU

About Intuit

(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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