Intuit Inc. (NASDAQ:INTU) Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 284.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,084 shares of the software maker’s stock after acquiring an additional 42,976 shares during the quarter. Cibc World Market Inc.’s holdings in Intuit were worth $36,506,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INTU. R Squared Ltd purchased a new position in Intuit in the 4th quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Intuit in the third quarter worth approximately $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $29,000. Denver PWM LLC purchased a new position in shares of Intuit in the third quarter worth approximately $32,000. Finally, Dunhill Financial LLC grew its position in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on INTU. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Finally, Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Up 2.0 %

NASDAQ:INTU opened at $604.60 on Friday. 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 firm has a fifty day simple moving average of $633.22 and a two-hundred day simple moving average of $634.26. The stock has a market capitalization of $169.24 billion, a price-to-earnings ratio of 58.70, a PEG ratio of 2.92 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. Analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated 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 completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by 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.