Sovran Advisors LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Sovran Advisors LLC purchased a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 400 shares of the software maker’s stock, valued at approximately $250,000.

Several other large investors also recently made changes to their positions in INTU. R Squared Ltd acquired a new stake in Intuit in the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter valued at approximately $27,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the 4th quarter valued at $29,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. 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 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INTU. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Up 1.3 %

Shares of NASDAQ:INTU opened at $583.90 on Friday. The company’s fifty day moving average is $622.69 and its 200-day moving average is $630.67. 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 Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a market capitalization of $163.45 billion, a PE ratio of 56.69, a P/E/G ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results 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 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s dividend payout ratio is 40.39%.

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.