CCLA Investment Management Increases Position in Intuit Inc. (NASDAQ:INTU)

CCLA Investment Management lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 202,638 shares of the software maker’s stock after buying an additional 20,884 shares during the period. Intuit makes up approximately 2.0% of CCLA Investment Management’s holdings, making the stock its 20th largest position. CCLA Investment Management’s holdings in Intuit were worth $127,357,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTU. American Century Companies Inc. lifted its position in Intuit by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 51,454 shares of the software maker’s stock worth $33,816,000 after acquiring an additional 4,913 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Intuit during the second quarter worth approximately $1,342,000. Dimensional Fund Advisors LP lifted its holdings in shares of Intuit by 13.0% during the second quarter. Dimensional Fund Advisors LP now owns 550,874 shares of the software maker’s stock worth $362,037,000 after purchasing an additional 63,209 shares during the period. One Capital Management LLC acquired a new stake in shares of Intuit during the second quarter worth $202,000. Finally, Lmcg Investments LLC grew its position in Intuit by 3.2% in the 2nd quarter. Lmcg Investments LLC now owns 15,151 shares of the software maker’s stock valued at $9,957,000 after buying an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $623.80 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $174.61 billion, a P/E ratio of 60.56, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The firm has a 50-day moving average price of $649.57 and a two-hundred day moving average price of $637.71. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 last year, the company posted $1.14 EPS. The company’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on INTU shares. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, 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. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Insider Activity

In related news, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

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.