V Square Quantitative Management LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

V Square Quantitative Management LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,170 shares of the software maker’s stock after buying an additional 413 shares during the quarter. Intuit makes up approximately 0.7% of V Square Quantitative Management LLC’s portfolio, making the stock its 20th largest holding. V Square Quantitative Management LLC’s holdings in Intuit were worth $4,453,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares during the last quarter. Legal & General Group Plc lifted its stake in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Intuit by 1.0% in the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after purchasing an additional 12,068 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent research reports. Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, Barclays lowered their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Up 0.4 %

Intuit stock traded up $2.31 during midday trading on Friday, reaching $611.54. The company’s stock had a trading volume of 156,289 shares, compared to its average volume of 1,319,486. The business has a 50-day simple moving average of $630.74 and a 200-day simple moving average of $627.72. The company has a market cap of $170.95 billion, a P/E ratio of 56.20, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is 38.38%.

About Intuit

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.