Vicus Capital Buys Shares of 347 Intuit Inc. (NASDAQ:INTU)

Vicus Capital bought a new stake in Intuit Inc. (NASDAQ:INTU) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 347 shares of the software maker’s stock, valued at approximately $225,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Desjardins Global Asset Management Inc. raised its stake in shares of Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after acquiring an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after acquiring an additional 16 shares during the last quarter. GAM Holding AG raised its stake in shares of Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.9 %

Shares of NASDAQ INTU opened at $657.21 on Friday. The stock has a market capitalization of $183.72 billion, a P/E ratio of 60.63, a P/E/G ratio of 3.76 and a beta of 1.21. The company has a 50-day moving average price of $618.61 and a 200-day moving average price of $628.16. Intuit Inc. has a 1 year low of $444.19 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $7.80 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INTU shares. Stifel Nicolaus dropped their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Piper Sandler lifted their target price on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Jefferies Financial Group reissued a “buy” rating and set a $770.00 target price on shares of Intuit in a research note on Thursday, June 13th. UBS Group lifted their target price on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Finally, Wells Fargo & Company lifted their target price on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $683.91.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,937 shares of company stock worth $113,123,232. 2.90% of the stock is owned by insiders.

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.