Trajan Wealth LLC Trims Holdings in Intuit Inc. $INTU

Trajan Wealth LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,698 shares of the software maker’s stock after selling 1,404 shares during the period. Trajan Wealth LLC’s holdings in Intuit were worth $20,964,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Verus Capital Partners LLC boosted its stake in shares of Intuit by 32.9% during the third quarter. Verus Capital Partners LLC now owns 481 shares of the software maker’s stock worth $328,000 after buying an additional 119 shares during the period. American Money Management LLC raised its stake in Intuit by 10.5% during the 3rd quarter. American Money Management LLC now owns 14,780 shares of the software maker’s stock valued at $10,093,000 after acquiring an additional 1,400 shares during the last quarter. Clearstead Advisors LLC lifted its position in Intuit by 25.4% during the 3rd quarter. Clearstead Advisors LLC now owns 5,626 shares of the software maker’s stock worth $3,842,000 after acquiring an additional 1,138 shares during the period. Clearstead Trust LLC grew its stake in shares of Intuit by 27.3% in the 3rd quarter. Clearstead Trust LLC now owns 1,097 shares of the software maker’s stock valued at $749,000 after purchasing an additional 235 shares during the last quarter. Finally, Granite Investment Partners LLC increased its holdings in shares of Intuit by 48.8% in the third quarter. Granite Investment Partners LLC now owns 14,143 shares of the software maker’s stock valued at $9,658,000 after purchasing an additional 4,636 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Scott D. Cook sold 1,402 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $668.02, for a total value of $936,564.04. Following the sale, the director directly owned 5,668,182 shares of the company’s stock, valued at approximately $3,786,458,939.64. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $659.95, for a total transaction of $219,763.35. Following the transaction, the director directly owned 13,476 shares of the company’s stock, valued at $8,893,486.20. This trade represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 388,464 shares of company stock valued at $255,514,393 in the last quarter. Corporate insiders own 2.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore reiterated an “outperform” rating and issued a $875.00 price objective on shares of Intuit in a research report on Tuesday, November 18th. Truist Financial started coverage on shares of Intuit in a report on Tuesday, January 6th. They issued a “buy” rating and a $739.00 target price on the stock. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Independent Research set a $875.00 target price on Intuit in a research report on Tuesday, November 18th. Finally, UBS Group set a $739.00 price target on Intuit in a report on Tuesday, January 6th. Twenty-two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $761.27.

Intuit Stock Down 0.3%

Intuit stock opened at $380.55 on Monday. Intuit Inc. has a fifty-two week low of $375.40 and a fifty-two week high of $813.70. The firm has a market capitalization of $105.90 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The stock’s fifty day moving average is $554.54 and its two-hundred day moving average is $628.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 1.39.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 20th. The software maker reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.25. Intuit had a return on equity of 23.52% and a net margin of 21.19%.The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm posted $2.50 EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Profile

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.