V Square Quantitative Management LLC Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

V Square Quantitative Management LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,671 shares of the software maker’s stock after buying an additional 501 shares during the quarter. Intuit comprises approximately 0.7% of V Square Quantitative Management LLC’s portfolio, making the stock its 19th largest position. V Square Quantitative Management LLC’s holdings in Intuit were worth $4,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INTU. Nordea Investment Management AB increased 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 valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. acquired a new stake in Intuit in the 4th quarter valued at approximately $621,000. Harvest Portfolios Group Inc. increased its holdings in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the last quarter. Retireful LLC acquired a new stake in Intuit in the 3rd quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit in the 3rd quarter valued at approximately $56,144,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $583.90 on Friday. The company has a 50-day simple moving average of $622.69 and a 200-day simple moving average of $630.67. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $163.44 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 2.91 and a beta of 1.24.

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

Intuit Dividend Announcement

The firm also recently announced 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 was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s payout ratio is 40.39%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares in the company, valued at approximately $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on INTU. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Piper Sandler restated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $726.53.

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.