Everence Capital Management Inc. Has $4.59 Million Stake in Intuit Inc. (NASDAQ:INTU)

Everence Capital Management Inc. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 14.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,310 shares of the software maker’s stock after selling 1,240 shares during the quarter. Everence Capital Management Inc.’s holdings in Intuit were worth $4,594,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter worth $25,000. Fairway Wealth LLC bought a new stake in Intuit during the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at about $27,000. Denver PWM LLC acquired a new stake in Intuit in the 3rd quarter valued at approximately $32,000. Finally, Dunhill Financial LLC increased its position in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock traded up $6.18 during trading hours on Friday, hitting $628.97. 311,897 shares of the stock were exchanged, compared to its average volume of 722,607. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The business’s 50-day moving average is $648.62 and its two-hundred day moving average is $637.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $176.06 billion, a P/E ratio of 61.07, a P/E/G ratio of 3.24 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. Equities research analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank initiated coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,814 shares of company stock worth $170,119,823. 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.