Intuit Inc. (NASDAQ:INTU) Position Decreased by Copeland Capital Management LLC

Copeland Capital Management LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,179 shares of the software maker’s stock after selling 520 shares during the period. Copeland Capital Management LLC’s holdings in Intuit were worth $14,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in INTU. Copia Wealth Management bought a new position in shares of Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC boosted its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Intuit during the 4th quarter valued at about $35,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 16,061 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer now owns 197 shares of the company’s stock, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,738 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the transaction, the chief accounting officer now directly owns 455 shares in the company, valued at approximately $356,760.95. The trade was a 79.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,896 shares of company stock valued at $204,351,942. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INTU has been the subject of several research reports. Susquehanna restated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Piper Sandler reiterated an “overweight” rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group raised their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Finally, Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an “overweight” rating in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $793.05.

Intuit Price Performance

NASDAQ INTU opened at $776.57 on Friday. The company has a 50 day simple moving average of $700.54 and a 200-day simple moving average of $638.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $216.62 billion, a price-to-earnings ratio of 63.03, a price-to-earnings-growth ratio of 3.44 and a beta of 1.28. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $787.22.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $9.88 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s payout ratio is presently 33.77%.

About Intuit

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.