Commerce Bank Sells 995 Shares of Intuit Inc. (NASDAQ:INTU)

Commerce Bank lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,644 shares of the software maker’s stock after selling 995 shares during the period. Commerce Bank’s holdings in Intuit were worth $15,489,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INTU shares. Piper Sandler reiterated an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Jefferies Financial Group cut their target price on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Morgan Stanley lowered their price target on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $718.56.

Intuit Price Performance

Shares of INTU opened at $585.38 on Friday. The firm’s 50-day simple moving average is $592.03 and its two-hundred day simple moving average is $616.49. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The stock has a market cap of $163.65 billion, a PE ratio of 56.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by insiders.

About Intuit

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.