Intuit Inc. (NASDAQ:INTU) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in Intuit Inc. (NASDAQ:INTU) by 667.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 82,217 shares of the software maker’s stock after acquiring an additional 71,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Intuit were worth $51,057,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. grew its position in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC lifted its stake in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares in the last quarter. Retireful LLC acquired a new stake in Intuit in the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit during the 3rd quarter worth approximately $56,144,000. Finally, Cetera Advisors LLC raised its holdings in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Trading Down 0.4 %

Shares of INTU stock opened at $636.17 on Thursday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a market cap of $178.15 billion, a PE ratio of 61.76, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a 50-day moving average of $634.52 and a two-hundred day moving average of $631.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $1.14 EPS. On average, analysts predict that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,265 shares of company stock valued at $83,336,625. Corporate insiders own 2.90% of the company’s stock.

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.