17 Capital Partners LLC Acquires 30 Shares of Intuit Inc. (NASDAQ:INTU)

17 Capital Partners LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 739 shares of the software maker’s stock after buying an additional 30 shares during the period. 17 Capital Partners LLC’s holdings in Intuit were worth $464,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB raised its holdings in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new stake in Intuit in the fourth quarter worth about $621,000. Harvest Portfolios Group Inc. raised its stake in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC purchased a new position in shares of Intuit during the 3rd quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit during the 3rd quarter valued at approximately $56,144,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INTU has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 1.9 %

INTU stock opened at $578.85 on Friday. The company has a market capitalization of $162.03 billion, a PE ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm’s 50-day moving average is $626.20 and its 200 day moving average is $631.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. Intuit’s dividend payout ratio is currently 40.39%.

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.