Planned Solutions Inc. Takes $420,000 Position in Intuit Inc. (NASDAQ:INTU)

Planned Solutions Inc. bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 672 shares of the software maker’s stock, valued at approximately $420,000.

Several other hedge funds also recently bought and sold shares of INTU. OFI Invest Asset Management purchased a new stake in Intuit in the third quarter valued at about $51,000. V Square Quantitative Management LLC grew its holdings in Intuit by 18.8% during the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after acquiring an additional 482 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Intuit by 2,017.2% during the second quarter. Orion Portfolio Solutions LLC now owns 46,007 shares of the software maker’s stock worth $22,282,000 after acquiring an additional 43,834 shares during the period. Rehmann Capital Advisory Group purchased a new position in Intuit during the second quarter worth approximately $285,000. Finally, Thematics Asset Management boosted its position in Intuit by 8.4% during the second quarter. Thematics Asset Management now owns 21,897 shares of the software maker’s stock worth $10,033,000 after purchasing an additional 1,704 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 14,772 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $598.52, for a total value of $8,841,337.44. Following the transaction, the executive vice president now directly owns 50,030 shares in the company, valued at $29,943,955.60. The disclosure for this sale can be found here. Insiders have sold 34,260 shares of company stock worth $20,667,475 in the last 90 days. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Susquehanna raised their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday. Mizuho lifted their target price on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus boosted their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $648.74 on Thursday. The stock has a 50 day moving average price of $645.76 and a 200 day moving average price of $586.88. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $181.65 billion, a PE ratio of 66.20, a price-to-earnings-growth ratio of 3.90 and a beta of 1.22.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $1.05 earnings per share. Analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. Intuit’s dividend payout ratio is currently 36.73%.

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.