Simmons Bank Grows Stake in Intuit Inc. (NASDAQ:INTU)

Simmons Bank raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 844 shares of the software maker’s stock after purchasing an additional 83 shares during the period. Simmons Bank’s holdings in Intuit were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit in the 4th quarter worth about $25,000. MCF Advisors LLC raised its holdings in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. NewSquare Capital LLC bought a new position in Intuit during the 3rd quarter worth about $25,000. Cape Investment Advisory Inc. purchased a new position in Intuit during the 3rd quarter valued at about $26,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Intuit in the 4th quarter valued at about $38,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler raised their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Barclays lifted 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. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

Insiders Place Their Bets

In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s 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 of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $9.36 during trading on Wednesday, reaching $631.79. 561,035 shares of the company traded hands, compared to its average volume of 1,223,917. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $176.90 billion, a P/E ratio of 64.47, a PEG ratio of 3.83 and a beta of 1.22. The firm’s fifty day simple moving average is $636.41 and its 200 day simple moving average is $608.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating 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 company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors 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 payout ratio is presently 36.73%.

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.