Intuit Inc. (NASDAQ:INTU) Shares Bought by Bailard Inc.

Bailard Inc. raised its stake in Intuit Inc. (NASDAQ:INTU) by 71.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,525 shares of the software maker’s stock after purchasing an additional 13,537 shares during the period. Bailard Inc.’s holdings in Intuit were worth $19,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Copia Wealth Management acquired a new stake in shares of Intuit during the 4th quarter worth about $25,000. Summit Securities Group LLC acquired a new position in Intuit during the fourth quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth approximately $28,000. VSM Wealth Advisory LLC acquired a new position in Intuit during the fourth quarter worth approximately $35,000. Finally, Olde Wealth Management LLC acquired a new position in Intuit during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 16,700 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president directly owned 23,101 shares in the company, valued at approximately $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer directly owned 197 shares of the company’s stock, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 279,800 shares of company stock valued at $209,725,054. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $750.72 on Thursday. The stock has a fifty day moving average price of $740.03 and a 200 day moving average price of $648.90. The stock has a market cap of $209.41 billion, a PE ratio of 60.94, a P/E/G ratio of 3.31 and a beta of 1.27. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the firm posted $9.88 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit’s payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on INTU shares. BMO Capital Markets set a $870.00 price target on Intuit and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Citigroup reaffirmed a “buy” rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $825.00 price target (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI lifted their target price on Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $800.55.

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.