Intuit Inc. (NASDAQ:INTU) Shares Acquired by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. grew its position in Intuit Inc. (NASDAQ:INTU) by 2.6% in the third quarter, HoldingsChannel reports. The fund owned 549,641 shares of the software maker’s stock after acquiring an additional 13,794 shares during the quarter. Intuit accounts for about 4.9% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 7th largest position. Comgest Global Investors S.A.S.’s holdings in Intuit were worth $341,327,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Intuit by 1.0% during the second 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. grew its stake in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares in the last quarter. Principal Financial Group Inc. grew its stake in Intuit by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after acquiring an additional 56,370 shares in the last quarter. Capital World Investors grew its stake in Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after acquiring an additional 12,068 shares in the last quarter. Finally, Unisphere Establishment grew its stake in Intuit by 4.2% during the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock valued at $657,210,000 after acquiring an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 in the last ninety days. Insiders own 2.90% of the company’s stock.

Intuit Stock Down 1.8 %

Shares of NASDAQ:INTU traded down $12.89 during trading hours on Friday, reaching $687.87. The stock had a trading volume of 1,799,379 shares, compared to its average volume of 1,335,732. Intuit Inc. has a 1 year low of $552.68 and a 1 year high of $714.78. The firm’s 50 day moving average is $633.08 and its 200-day moving average is $630.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $192.80 billion, a price-to-earnings ratio of 65.82, a P/E/G ratio of 3.45 and a beta of 1.25.

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

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is 39.81%.

Wall Street Analyst Weigh In

INTU has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group upped their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Finally, Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $739.24.

Intuit Company 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.