OneAscent Financial Services LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

OneAscent Financial Services LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 720 shares of the software maker’s stock, valued at approximately $447,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 89.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Finally, Scotiabank initiated coverage on Intuit in a research report on Monday. They issued a “sector perform” rating and a $700.00 price target for the company. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.06.

Intuit Price Performance

NASDAQ INTU opened at $678.81 on Tuesday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $190.26 billion, a price-to-earnings ratio of 64.96, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The company has a 50-day moving average price of $634.11 and a two-hundred day moving average price of $630.65.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Analysts forecast that Intuit Inc. will post 14.05 EPS for the current year.

About Intuit

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.