Meeder Advisory Services Inc. Buys 140 Shares of Intuit Inc. (NASDAQ:INTU)

Meeder Advisory Services Inc. raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,422 shares of the software maker’s stock after purchasing an additional 140 shares during the period. Meeder Advisory Services Inc.’s holdings in Intuit were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of INTU. Desjardins Global Asset Management Inc. grew its stake in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after acquiring an additional 16 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after acquiring an additional 16 shares during the period. GAM Holding AG boosted its holdings in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in shares of Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares during the period. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. KeyCorp boosted their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Citigroup increased their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $760.00 target price on shares of Intuit in a report on Friday. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 14,748 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock worth $114,442,445 in the last 90 days. Insiders own 2.90% of the company’s stock.

Intuit Stock Up 2.5 %

NASDAQ INTU traded up $16.23 during trading on Monday, hitting $658.18. The company’s stock had a trading volume of 1,043,759 shares, compared to its average volume of 1,338,073. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a market cap of $183.99 billion, a PE ratio of 60.72, a P/E/G ratio of 3.67 and a beta of 1.23. 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 business’s 50 day simple moving average is $624.05 and its 200-day simple moving average is $630.76.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating the consensus estimate of $8.12 by $1.76. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $7.80 EPS. On average, equities analysts anticipate that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

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.