Caprock Group LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Caprock Group LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,634 shares of the software maker’s stock after buying an additional 1,568 shares during the period. Caprock Group LLC’s holdings in Intuit were worth $5,427,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in INTU. Nordea Investment Management AB grew its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in Intuit during the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. increased its position in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares in the last quarter. Finally, Retireful LLC purchased a new stake in shares of Intuit during the 3rd quarter worth $740,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 0.5 %

NASDAQ:INTU opened at $601.51 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $631.72 and its 200-day simple moving average is $634.06. The firm has a market cap of $168.37 billion, a P/E ratio of 58.40, a PEG ratio of 2.92 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced 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. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley boosted their target price 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 reiterated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Finally, Jefferies Financial Group boosted their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Activity

In other news, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the sale, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’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 transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

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.