GAMMA Investing LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

GAMMA Investing LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,449 shares of the software maker’s stock, valued at approximately $915,000.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Parnassus Investments LLC raised its stake in shares of Intuit by 42,268.5% in the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after acquiring an additional 609,512 shares during the period. Wellington Management Group LLP grew its holdings in shares of Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Intuit by 60,534.9% during 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. FMR LLC lifted its position in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in shares of Intuit by 56.2% during the third quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after buying an additional 222,317 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 over the last three months. Company insiders own 2.90% of the company’s stock.

Intuit Trading Up 3.5 %

Shares of NASDAQ:INTU traded up $21.11 during midday trading on Tuesday, hitting $630.88. The company had a trading volume of 1,457,840 shares, compared to its average volume of 1,248,993. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $176.65 billion, a price-to-earnings ratio of 64.38, a PEG ratio of 3.68 and a beta of 1.21. The firm has a fifty day simple moving average of $641.98 and a 200 day simple moving average of $600.94.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s payout ratio is 36.73%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INTU shares. KeyCorp increased their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Piper Sandler lifted their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Barclays boosted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Susquehanna boosted their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their target price on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit 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.