Knowledge Leaders Capital LLC Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Knowledge Leaders Capital LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,293 shares of the software maker’s stock after selling 72 shares during the period. Intuit accounts for 2.3% of Knowledge Leaders Capital LLC’s investment portfolio, making the stock its 16th largest holding. Knowledge Leaders Capital LLC’s holdings in Intuit were worth $1,433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Desjardins Global Asset Management Inc. boosted its holdings in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares during the last quarter. GAM Holding AG boosted its holdings in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the last quarter. Janiczek Wealth Management LLC lifted its stake in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares in the last quarter. Clear Harbor Asset Management LLC lifted its stake in shares of Intuit by 0.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after purchasing an additional 18 shares in the last quarter. Finally, Glenview Trust co lifted its stake in shares of Intuit by 1.9% during the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors 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 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 value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on 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 is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, 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 ninety days. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Piper Sandler boosted their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo & Company boosted their price objective on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Finally, KeyCorp boosted their price objective on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $10.16 during midday trading on Friday, hitting $636.55. 1,192,496 shares of the company’s stock were exchanged, compared to its average volume of 1,208,945. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s 50 day moving average price is $640.26 and its 200-day moving average price is $602.74. The firm has a market cap of $178.23 billion, a P/E ratio of 64.95, a PEG ratio of 3.81 and a beta of 1.21. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is 36.73%.

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.