Vinva Investment Management Ltd Has $7.27 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Vinva Investment Management Ltd grew its position in Intuit Inc. (NASDAQ:INTU) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,741 shares of the software maker’s stock after buying an additional 328 shares during the period. Vinva Investment Management Ltd’s holdings in Intuit were worth $7,268,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit in the second quarter valued at approximately $35,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on INTU shares. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Piper Sandler reduced their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Finally, Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 0.4 %

Shares of NASDAQ INTU opened at $636.17 on Thursday. 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 stock’s fifty day moving average is $634.52 and its 200 day moving average is $631.32. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Insider Activity

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,265 shares of company stock worth $83,336,625. 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.