Newbridge Financial Services Group Inc. Purchases Shares of 362 Intuit Inc. (NASDAQ:INTU)

Newbridge Financial Services Group Inc. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 362 shares of the software maker’s stock, valued at approximately $228,000.

Several other large investors also recently made changes to their positions in INTU. Kestra Private Wealth Services LLC boosted its holdings in Intuit by 62.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,409 shares of the software maker’s stock worth $4,657,000 after acquiring an additional 2,858 shares in the last quarter. Entropy Technologies LP raised its position in shares of Intuit by 384.1% during the fourth quarter. Entropy Technologies LP now owns 12,001 shares of the software maker’s stock worth $7,543,000 after purchasing an additional 9,522 shares during the period. Empowered Funds LLC lifted its holdings in shares of Intuit by 26.4% in the 4th quarter. Empowered Funds LLC now owns 7,021 shares of the software maker’s stock worth $4,413,000 after purchasing an additional 1,465 shares in the last quarter. Moloney Securities Asset Management LLC grew its position in Intuit by 0.7% in the 4th quarter. Moloney Securities Asset Management LLC now owns 2,717 shares of the software maker’s stock valued at $1,708,000 after purchasing an additional 20 shares during the period. Finally, Forbes J M & Co. LLP increased its stake in Intuit by 28.5% during the 4th quarter. Forbes J M & Co. LLP now owns 2,374 shares of the software maker’s stock valued at $1,492,000 after purchasing an additional 526 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the sale, the chief financial officer now directly owns 644 shares in the company, valued at $403,414.48. This trade represents a 66.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last three months. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $578.85 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $162.03 billion, a PE ratio of 56.20, a PEG ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock’s fifty day moving average price is $626.20 and its two-hundred day moving average price is $631.58.

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

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. 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%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on INTU shares. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Finally, Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit 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.