Ycg LLC Sells 1,387 Shares of Intuit Inc. (NASDAQ:INTU)

Ycg LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,440 shares of the software maker’s stock after selling 1,387 shares during the period. Intuit accounts for approximately 3.2% of Ycg LLC’s investment portfolio, making the stock its 13th biggest position. Ycg LLC’s holdings in Intuit were worth $39,730,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Intuit in the 4th quarter worth about $2,101,848,000. Wellington Management Group LLP raised its position in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC bought a new position in shares of Intuit in the 4th quarter worth about $467,852,000. Parnassus Investments LLC raised its position in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after acquiring an additional 472,172 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. KeyCorp boosted their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Finally, Morgan Stanley boosted their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $687.22.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. Insiders have sold 195,963 shares of company stock valued at $114,442,445 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

Intuit stock traded up $12.54 during trading on Friday, hitting $641.95. The stock had a trading volume of 1,044,880 shares, compared to its average volume of 1,340,288. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average is $623.32 and its two-hundred day moving average is $630.37. The stock has a market cap of $179.46 billion, a price-to-earnings ratio of 58.06, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23.

Intuit (NASDAQ:INTU) last issued its earnings results 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. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the previous year, the firm posted $7.80 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. Intuit’s payout ratio is 33.21%.

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.