Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 7,383 Shares of Intuit Inc. (NASDAQ:INTU)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 15.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,311 shares of the software maker’s stock after purchasing an additional 7,383 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Intuit were worth $28,772,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. increased its stake in Intuit by 39.6% in the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after buying an additional 1,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Intuit by 10.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock worth $242,492,000 after purchasing an additional 48,196 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Intuit by 8.4% during the 1st quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock worth $1,552,000 after purchasing an additional 249 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Intuit by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock worth $25,825,000 after purchasing an additional 3,576 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Intuit by 6.6% during the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock worth $16,448,000 after purchasing an additional 2,127 shares during the last quarter. 82.63% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Intuit from $610.00 to $678.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Piper Sandler reissued an “overweight” rating and issued a $642.00 price objective on shares of Intuit in a report on Wednesday, November 29th. Barclays boosted their price objective on shares of Intuit from $570.00 to $660.00 and gave the company an “overweight” rating in a report on Wednesday, November 29th. Citigroup upped their price target on shares of Intuit from $565.00 to $651.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Finally, Mizuho upped their price objective on shares of Intuit from $600.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $594.67.
Check Out Our Latest Analysis on INTU
Insider Buying and Selling
In related news, CEO Sasan K. Goodarzi sold 93,641 shares of Intuit stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $569.02, for a total value of $53,283,601.82. Following the transaction, the chief executive officer now directly owns 65,324 shares of the company’s stock, valued at $37,170,662.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, CEO Sasan K. Goodarzi sold 93,641 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $569.02, for a total transaction of $53,283,601.82. Following the transaction, the chief executive officer now directly owns 65,324 shares of the company’s stock, valued at approximately $37,170,662.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Raul Vazquez sold 1,631 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $622.92, for a total transaction of $1,015,982.52. The disclosure for this sale can be found here. Insiders have sold a total of 124,815 shares of company stock valued at $71,849,903 over the last three months. 2.90% of the stock is owned by company insiders.
Intuit Stock Performance
Shares of INTU traded up $9.90 during trading hours on Thursday, hitting $653.07. The company’s stock had a trading volume of 1,005,707 shares, compared to its average volume of 1,139,773. The company has a market cap of $182.79 billion, a price-to-earnings ratio of 71.37, a PEG ratio of 3.82 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day simple moving average of $612.37 and a two-hundred day simple moving average of $553.18. Intuit Inc. has a 52-week low of $384.05 and a 52-week high of $654.24.
Intuit (NASDAQ:INTU – Get Free Report) last announced its earnings results on Tuesday, November 28th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.49. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.88 billion. Intuit had a net margin of 17.53% and a return on equity of 17.34%. Intuit’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. On average, equities analysts expect that Intuit Inc. will post 11.26 earnings per share for the current fiscal year.
Intuit Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s payout ratio is 39.34%.
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.
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