DRW Securities LLC Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

DRW Securities LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,728 shares of the software maker’s stock after selling 137 shares during the quarter. DRW Securities LLC’s holdings in Intuit were worth $1,694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. LGT Financial Advisors LLC bought a new stake in Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the second quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit in the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter worth $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU opened at $634.62 on Tuesday. The business’s 50-day moving average is $634.58 and its two-hundred day moving average is $631.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $177.77 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

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 dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s payout ratio is 40.39%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s 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 sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,265 shares of company stock worth $35,200,125. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on INTU. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Bank of America raised their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

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.