Planning Capital Management Corp Raises Stake in Intuit Inc. (NASDAQ:INTU)

Planning Capital Management Corp lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 67.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,691 shares of the software maker’s stock after purchasing an additional 684 shares during the quarter. Planning Capital Management Corp’s holdings in Intuit were worth $1,050,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit during the 2nd quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last three months. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INTU shares. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Stifel Nicolaus upped their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

INTU stock opened at $706.25 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $197.95 billion, a P/E ratio of 67.58, a P/E/G ratio of 3.42 and a beta of 1.25. Intuit Inc. has a 12-month low of $541.40 and a 12-month high of $714.78. The stock’s 50 day simple moving average is $630.03 and its 200 day simple moving average is $629.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

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.