Intuit Inc. (NASDAQ:INTU) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in Intuit Inc. (NASDAQ:INTU) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,586 shares of the software maker’s stock after acquiring an additional 1,753 shares during the period. Intuit accounts for 0.9% of Wedge Capital Management L L P NC’s holdings, making the stock its 14th largest position. Wedge Capital Management L L P NC’s holdings in Intuit were worth $67,755,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of INTU. BlackRock Inc. lifted its position in Intuit by 1.2% during the second quarter. BlackRock Inc. now owns 23,431,661 shares of the software maker’s stock worth $11,485,499,000 after buying an additional 285,308 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Intuit by 0.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 22,645,713 shares of the software maker’s stock worth $11,100,250,000 after buying an additional 59,327 shares in the last quarter. State Street Corp lifted its position in Intuit by 2.3% during the second quarter. State Street Corp now owns 10,863,514 shares of the software maker’s stock worth $5,324,969,000 after buying an additional 242,134 shares in the last quarter. FMR LLC lifted its position in Intuit by 18.9% during the second quarter. FMR LLC now owns 8,015,021 shares of the software maker’s stock worth $3,928,723,000 after buying an additional 1,274,405 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Intuit by 1.6% during the second quarter. Geode Capital Management LLC now owns 4,421,187 shares of the software maker’s stock worth $2,160,720,000 after buying an additional 69,057 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:INTU traded up $13.37 on Thursday, hitting $684.00. 1,714,612 shares of the company’s stock were exchanged, compared to its average volume of 1,249,703. The firm’s 50-day moving average is $587.88 and its 200 day moving average is $530.92. The company has a market capitalization of $193.69 billion, a PE ratio of 90.48, a P/E/G ratio of 5.86 and a beta of 1.07. Intuit Inc. has a 1-year low of $345.01 and a 1-year high of $716.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.10 and a current ratio of 2.10.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 18th. The software maker reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.56. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Intuit had a return on equity of 22.39% and a net margin of 20.28%. The business’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS. On average, analysts anticipate that Intuit Inc. will post 7.98 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Stockholders of record on Monday, January 10th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, January 7th. This represents a $2.72 annualized dividend and a dividend yield of 0.40%. Intuit’s dividend payout ratio is currently 35.98%.

A number of equities research analysts have commented on the company. Morgan Stanley lifted their target price on Intuit from $615.00 to $715.00 and gave the company an “overweight” rating in a research report on Monday, November 15th. Mizuho lifted their target price on Intuit from $640.00 to $730.00 and gave the company a “buy” rating in a research report on Friday, November 19th. Oppenheimer lifted their target price on Intuit from $584.00 to $696.00 and gave the company an “outperform” rating in a research report on Friday, November 19th. Piper Sandler lifted their target price on Intuit from $621.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday, November 19th. Finally, KeyCorp lifted their target price on Intuit from $625.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, November 19th. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $644.35.

In other Intuit news, CAO Mark J. Flournoy sold 389 shares of the company’s stock in a transaction that occurred on Wednesday, September 29th. The stock was sold at an average price of $551.33, for a total transaction of $214,467.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Alexander Chriss sold 336 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $691.96, for a total value of $232,498.56. The disclosure for this sale can be found here. Insiders sold a total of 80,191 shares of company stock valued at $49,736,475 over the last three months. Company insiders own 3.38% of the company’s stock.

Intuit Profile

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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