Profund Advisors LLC Has $16.98 Million Stake in Intuit Inc. (NASDAQ:INTU)

Profund Advisors LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 21.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,165 shares of the software maker’s stock after buying an additional 4,771 shares during the quarter. Intuit comprises approximately 0.7% of Profund Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. Profund Advisors LLC’s holdings in Intuit were worth $16,979,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC grew its position in Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares during the period. Parnassus Investments LLC lifted its stake in Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after acquiring an additional 226 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC bought a new position in Intuit during the 4th quarter valued at $1,292,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock traded up $2.40 during mid-day trading on Thursday, reaching $594.62. 2,132,066 shares of the company traded hands, compared to its average volume of 1,324,905. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $166.23 billion, a P/E ratio of 54.85, a P/E/G ratio of 3.24 and a beta of 1.21. Intuit Inc. has a 52-week low of $440.46 and a 52-week high of $676.62. The company has a fifty day moving average price of $618.34 and a 200-day moving average price of $623.92.

Intuit (NASDAQ:INTUGet Free Report) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the firm earned $7.80 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

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 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the sale, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,217 shares of company stock valued at $113,301,418. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Susquehanna dropped their price objective on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Stifel Nicolaus dropped their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. KeyCorp lifted their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, Piper Sandler lifted their target price on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $679.41.

Get Our Latest Stock Analysis on Intuit

About Intuit

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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