Rational Advisors LLC Acquires Shares of 371 Intuit Inc. (NASDAQ:INTU)

Rational Advisors LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 371 shares of the software maker’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. Bailard Inc. raised its stake in shares of Intuit by 3.6% during the second quarter. Bailard Inc. now owns 18,021 shares of the software maker’s stock valued at $11,844,000 after acquiring an additional 619 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in Intuit by 2.7% during the 2nd quarter. Catalyst Financial Partners LLC now owns 948 shares of the software maker’s stock worth $623,000 after purchasing an additional 25 shares during the period. Hills Bank & Trust Co lifted its holdings in shares of Intuit by 21.8% in the 2nd quarter. Hills Bank & Trust Co now owns 822 shares of the software maker’s stock worth $540,000 after buying an additional 147 shares during the period. Raymond James Trust N.A. grew its position in shares of Intuit by 1.8% during the 2nd quarter. Raymond James Trust N.A. now owns 10,915 shares of the software maker’s stock worth $7,173,000 after buying an additional 189 shares in the last quarter. Finally, Optas LLC increased its stake in shares of Intuit by 1.2% during the second quarter. Optas LLC now owns 1,708 shares of the software maker’s stock valued at $1,123,000 after buying an additional 20 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. Insiders have sold 195,963 shares of company stock valued at $114,442,445 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INTU. Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday. BMO Capital Markets lifted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday. Finally, KeyCorp raised their price objective on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $716.35.

Intuit Trading Down 0.4 %

Shares of Intuit stock traded down $2.73 on Monday, reaching $617.12. The company had a trading volume of 1,967,509 shares, compared to its average volume of 1,337,066. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $172.51 billion, a PE ratio of 56.93, a PEG ratio of 3.14 and a beta of 1.23. The firm’s 50 day moving average price is $639.56 and its two-hundred day moving average price is $634.12. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Sell-side analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 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.