Personal CFO Solutions LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Personal CFO Solutions LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,118 shares of the software maker’s stock after buying an additional 170 shares during the quarter. Personal CFO Solutions LLC’s holdings in Intuit were worth $1,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. Norges Bank bought a new position in shares of Intuit in the 4th quarter worth approximately $2,290,419,000. GAMMA Investing LLC raised its position in shares of Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment raised its position in shares of Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock worth $942,750,000 after acquiring an additional 500,000 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 25,648 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the transaction, the executive vice president directly owned 22,796 shares in the company, valued at approximately $17,148,291. This trade represents a 52.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the completion of the sale, the executive vice president directly owned 23,101 shares in the company, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,661 shares of company stock worth $206,491,776. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Piper Sandler reiterated an “overweight” rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Oppenheimer reiterated an “outperform” rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group increased their target price on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $798.27.

Intuit Price Performance

Intuit stock opened at $783.20 on Tuesday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $790.60. The firm has a fifty day moving average of $722.21 and a 200-day moving average of $643.41. The firm has a market capitalization of $218.47 billion, a P/E ratio of 63.48, a PEG ratio of 3.47 and a beta of 1.27. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 earnings per share. As a group, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. Intuit’s payout ratio is currently 33.77%.

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.