UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,300,789 shares of the software maker’s stock after purchasing an additional 87,517 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Intuit were worth $1,428,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Jaffetilchin Investment Partners LLC purchased a new stake in Intuit in the first quarter worth approximately $211,000. LRI Investments LLC purchased a new stake in Intuit in the first quarter worth approximately $64,000. Swedbank AB purchased a new stake in Intuit in the first quarter worth approximately $75,586,000. Farallon Capital Management LLC boosted its holdings in Intuit by 0.8% in the first quarter. Farallon Capital Management LLC now owns 537,078 shares of the software maker’s stock worth $349,101,000 after purchasing an additional 4,078 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Intuit by 291.1% in the first quarter. Cetera Investment Advisers now owns 46,756 shares of the software maker’s stock worth $30,391,000 after purchasing an additional 34,802 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INTU. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Finally, Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $636.17 on Thursday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market capitalization of $178.15 billion, a P/E ratio of 61.76, a PEG ratio of 3.14 and a beta of 1.25. The firm has a fifty day simple moving average of $634.52 and a two-hundred day simple moving average of $631.32. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS 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 business’s revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,265 shares of company stock valued at $83,336,625. Company insiders own 2.90% of the company’s stock.

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.