UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,300,789 shares of the software maker’s stock after purchasing an additional 87,517 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.82% of Intuit worth $1,428,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Public Sector Pension Investment Board lifted its stake in Intuit by 667.2% in the third quarter. Public Sector Pension Investment Board now owns 82,217 shares of the software maker’s stock worth $51,057,000 after purchasing an additional 71,500 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Intuit in the third quarter worth about $2,685,000. CreativeOne Wealth LLC lifted its stake in shares of Intuit by 26.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,319 shares of the software maker’s stock valued at $5,787,000 after acquiring an additional 1,947 shares during the last quarter. BNP Paribas boosted its holdings in Intuit by 1.4% during the 3rd quarter. BNP Paribas now owns 4,477 shares of the software maker’s stock valued at $2,751,000 after acquiring an additional 63 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Intuit by 102.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 188,140 shares of the software maker’s stock worth $116,835,000 after acquiring an additional 95,115 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. The trade was a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,265 shares of company stock worth $83,336,625 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.4 %

NASDAQ:INTU opened at $636.17 on Thursday. The firm has a market capitalization of $178.15 billion, a P/E ratio of 61.76, a PEG ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company’s 50-day simple moving average is $634.52 and its 200 day simple moving average is $631.32.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. Intuit’s payout ratio is presently 40.39%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INTU. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Piper Sandler dropped their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $737.44.

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.