Intuit Inc. (NASDAQ:INTU) Shares Sold by DRW Securities LLC

DRW Securities LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 18.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock worth $35,200,125 in the last three months. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

INTU has been the subject of a number of analyst reports. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley upped 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. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Piper Sandler reduced their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 0.9 %

Shares of NASDAQ:INTU opened at $634.62 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $634.58 and a two-hundred day moving average of $631.24. The stock has a market cap of $177.77 billion, a P/E ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last issued 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. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. On average, research analysts expect that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is currently 40.39%.

Intuit 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.