Picton Mahoney Asset Management Acquires 1,117 Shares of Intuit Inc. (NASDAQ:INTU)

Picton Mahoney Asset Management increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,404 shares of the software maker’s stock after acquiring an additional 1,117 shares during the quarter. Picton Mahoney Asset Management’s holdings in Intuit were worth $9,003,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Parnassus Investments LLC boosted its stake in shares of Intuit by 42,268.5% in the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares during the period. Wellington Management Group LLP grew its holdings in shares of Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares during the period. Fisher Asset Management LLC raised its stake in Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after purchasing an additional 270,414 shares in the last quarter. Finally, FMR LLC raised its stake in Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on INTU shares. Wells Fargo & Company raised their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Piper Sandler upped their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Evercore ISI raised their price objective on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, KeyCorp boosted their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Trading Up 1.0 %

Shares of INTU stock traded up $6.51 on Tuesday, hitting $641.15. The company had a trading volume of 757,578 shares, compared to its average volume of 1,231,888. The stock’s 50-day moving average is $636.41 and its two-hundred day moving average is $608.45. 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 firm has a market cap of $179.52 billion, a P/E ratio of 65.42, a P/E/G ratio of 3.83 and a beta of 1.22. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the business earned $1.05 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 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.