Wedge Capital Management L L P NC Acquires 8,441 Shares of Intuit Inc. (NASDAQ:INTU)

Wedge Capital Management L L P NC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,981 shares of the software maker’s stock after acquiring an additional 8,441 shares during the quarter. Intuit makes up about 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 18th largest position. Wedge Capital Management L L P NC’s holdings in Intuit were worth $63,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of INTU. Brown Financial Advisors boosted its stake in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the last quarter. Aviso Wealth Management boosted its position in shares of Intuit by 4.9% during the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after buying an additional 17 shares during the last quarter. CVA Family Office LLC raised its position in Intuit by 3.3% in the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after buying an additional 17 shares during the last quarter. Finally, Chris Bulman Inc lifted its stake in Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $604.13 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. 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 $647.69 and its 200 day moving average is $637.39. The company has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (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 analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio is 40.39%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INTU shares. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley raised their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $726.53.

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.