Canada Pension Plan Investment Board Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Canada Pension Plan Investment Board boosted its holdings in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 45.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,984 shares of the software maker’s stock after purchasing an additional 10,974 shares during the period. Canada Pension Plan Investment Board’s holdings in Intuit were worth $17,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in INTU. NewSquare Capital LLC purchased a new position in shares of Intuit during the 3rd quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new position in shares of Intuit in the third quarter worth about $26,000. Steward Financial Group LLC boosted its stake in shares of Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after acquiring an additional 20 shares in the last quarter. Aspire Private Capital LLC grew its position in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after acquiring an additional 39 shares during the period. Finally, Key Financial Inc increased its stake in shares of Intuit by 95.1% in the 2nd quarter. Key Financial Inc now owns 80 shares of the software maker’s stock valued at $37,000 after purchasing an additional 39 shares in the last quarter. 82.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, CEO Sasan K. Goodarzi sold 93,641 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $569.02, for a total transaction of $53,283,601.82. Following the sale, the chief executive officer now directly owns 65,324 shares in the company, valued at $37,170,662.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Sasan K. Goodarzi sold 93,641 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $569.02, for a total value of $53,283,601.82. Following the sale, the chief executive officer now owns 65,324 shares of the company’s stock, valued at approximately $37,170,662.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Raul Vazquez sold 1,631 shares of Intuit stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $622.92, for a total value of $1,015,982.52. The disclosure for this sale can be found here. Insiders sold 124,815 shares of company stock worth $71,849,903 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

NASDAQ INTU opened at $658.16 on Monday. The firm has a market cap of $184.22 billion, a P/E ratio of 71.93, a P/E/G ratio of 3.96 and a beta of 1.24. Intuit Inc. has a 52-week low of $384.05 and a 52-week high of $662.83. The business’s 50-day moving average price is $615.68 and its 200 day moving average price is $555.87. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTUGet Free Report) last issued its quarterly earnings results on Tuesday, November 28th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.49. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intuit had a return on equity of 17.34% and a net margin of 17.53%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. On average, equities research analysts expect that Intuit Inc. will post 11.26 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, January 9th. Intuit’s payout ratio is 39.34%.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Susquehanna began coverage on Intuit in a research report on Friday, December 15th. They issued a “positive” rating and a $700.00 target price on the stock. Mizuho upped their target price on shares of Intuit from $600.00 to $625.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Stifel Nicolaus increased their target price on shares of Intuit from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Morgan Stanley boosted their price target on shares of Intuit from $525.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 29th. Finally, Oppenheimer increased their price objective on shares of Intuit from $610.00 to $678.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $594.67.

Check Out Our Latest Research Report on INTU

Intuit Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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