Certuity LLC Has $1.31 Million Position in Intuit Inc. (NASDAQ:INTU)

Certuity LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 40.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,089 shares of the software maker’s stock after selling 1,399 shares during the period. Certuity LLC’s holdings in Intuit were worth $1,306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Intuit in the third quarter valued at approximately $51,000. V Square Quantitative Management LLC increased its stake in Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after purchasing an additional 2,074 shares in the last quarter. Hixon Zuercher LLC bought a new stake in Intuit in the fourth quarter valued at approximately $1,292,000. Finally, Signature Wealth Management Group bought a new stake in Intuit in the fourth quarter valued at approximately $1,747,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Susquehanna increased their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Barclays increased their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, Oppenheimer increased their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $650.23.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 in the last ninety days. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of INTU traded down $6.96 during trading hours on Tuesday, hitting $631.43. The company had a trading volume of 373,661 shares, compared to its average volume of 1,234,751. The firm has a market cap of $176.80 billion, a price-to-earnings ratio of 64.87, a PEG ratio of 3.88 and a beta of 1.21. The business has a fifty day moving average of $639.91 and a 200-day moving average of $604.28. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm earned $1.05 earnings per share. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

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.