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Consolidated Planning Corp Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Financial News Live · Jan 25, 2023 12:52

Consolidated Planning Corp increased its stake in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 6.6% in the third quarter, HoldingsChannel reports. The firm owned 3,042 shares of the software maker's stock after buying an additional 188 shares during the quarter. Consolidated Planning Corp's holdings in Intuit were worth $1,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Intuit by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,749,565 shares of the software maker's stock worth $6,841,392,000 after acquiring an additional 575,174 shares in the last quarter. Bishop Rock Capital L.P. lifted its position in Intuit by 27,658.9% during the 2nd quarter. Bishop Rock Capital L.P. now owns 4,562,453 shares of the software maker's stock worth $11,837,000 after acquiring an additional 4,546,017 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Intuit by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,103,268 shares of the software maker's stock worth $1,196,123,000 after acquiring an additional 95,793 shares in the last quarter. Legal & General Group Plc lifted its position in Intuit by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,111,299 shares of the software maker's stock worth $813,780,000 after acquiring an additional 50,300 shares in the last quarter. Finally, Findlay Park Partners LLP lifted its position in Intuit by 29.7% during the 2nd quarter. Findlay Park Partners LLP now owns 1,890,824 shares of the software maker's stock worth $728,799,000 after acquiring an additional 433,382 shares in the last quarter. Hedge funds and other institutional investors own 82.65% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on INTU shares. Credit Suisse Group started coverage on Intuit in a research report on Monday, November 21st. They set an "outperform" rating and a $500.00 price target on the stock. Bank of America dropped their price objective on shares of Intuit from $500.00 to $475.00 and set a "buy" rating on the stock in a research note on Wednesday, November 30th. JPMorgan Chase & Co. lowered Intuit from an "overweight" rating to a "neutral" rating and set a $360.00 target price on the stock. in a research report on Monday, October 3rd. Wells Fargo & Company reduced their target price on shares of Intuit from $525.00 to $475.00 and set an "overweight" rating for the company in a research note on Wednesday, November 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Intuit from $560.00 to $525.00 and set a "buy" rating for the company in a research note on Wednesday, November 30th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and a consensus target price of $499.21.

Intuit Price Performance

Shares of INTU stock opened at $397.48 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $111.66 billion, a price-to-earnings ratio of 61.12, a P/E/G ratio of 3.08 and a beta of 1.15. The stock's fifty day simple moving average is $392.80 and its 200 day simple moving average is $411.89. Intuit Inc. has a one year low of $339.36 and a one year high of $579.96.

Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings data on Tuesday, November 29th. The software maker reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.49. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Intuit had a return on equity of 14.31% and a net margin of 14.10%. On average, analysts expect that Intuit Inc. will post 8.99 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Tuesday, January 10th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Monday, January 9th. Intuit's dividend payout ratio is currently 47.49%.

Insiders Place Their Bets

In other Intuit news, EVP James Alexander Chriss sold 1,545 shares of the business's stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $407.89, for a total value of $630,190.05. Following the transaction, the executive vice president now owns 344 shares of the company's stock, valued at $140,314.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP James Alexander Chriss sold 1,545 shares of the business's stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $407.89, for a total transaction of $630,190.05. Following the completion of the sale, the executive vice president now owns 344 shares in the company, valued at $140,314.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 400 shares of the company's stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $416.01, for a total value of $166,404.00. Following the completion of the sale, the chief accounting officer now owns 2,067 shares of the company's stock, valued at approximately $859,892.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,086 shares of company stock valued at $1,258,434. 3.18% of the stock is currently owned by corporate insiders.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.