Nomura Asset Management Co. Ltd. Purchases 10,769 Shares of Intuit Inc. (NASDAQ:INTU)

Nomura Asset Management Co. Ltd. raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,815 shares of the software maker’s stock after acquiring an additional 10,769 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Intuit were worth $56,137,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in INTU. MGO One Seven LLC boosted its holdings in shares of Intuit by 17.9% during the third quarter. MGO One Seven LLC now owns 1,289 shares of the software maker’s stock worth $659,000 after acquiring an additional 196 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Intuit by 7.7% in the third quarter. EverSource Wealth Advisors LLC now owns 433 shares of the software maker’s stock valued at $221,000 after buying an additional 31 shares during the period. NBC Securities Inc. bought a new stake in shares of Intuit in the third quarter valued at approximately $77,000. Victory Capital Management Inc. boosted its stake in shares of Intuit by 24.7% in the third quarter. Victory Capital Management Inc. now owns 288,602 shares of the software maker’s stock valued at $147,458,000 after buying an additional 57,249 shares during the period. Finally, LGT Group Foundation boosted its stake in shares of Intuit by 0.6% in the third quarter. LGT Group Foundation now owns 17,370 shares of the software maker’s stock valued at $8,994,000 after buying an additional 96 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Evercore ISI boosted their price target on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Jefferies Financial Group boosted their price target on Intuit from $760.00 to $770.00 and gave the company a “buy” rating in a research note on Friday. Susquehanna cut their price target on Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research note on Friday. Piper Sandler boosted their price target on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $679.41.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $55.27 during trading on Friday, hitting $606.99. 4,252,637 shares of the company were exchanged, compared to its average volume of 1,048,470. The business’s 50 day moving average is $634.59 and its 200-day moving average is $621.43. The company has a market capitalization of $169.96 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $8.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.12 by $0.51. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 19.07%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $7.80 earnings per share. Equities analysts forecast that Intuit Inc. will post 11.28 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s payout ratio is 33.21%.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 over the last three months. Company insiders own 2.90% of the company’s stock.

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.