Security Financial Services INC. Purchases 63 Shares of Intuit Inc. (NASDAQ:INTU)

Security Financial Services INC. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 569 shares of the software maker’s stock after purchasing an additional 63 shares during the quarter. Security Financial Services INC.’s holdings in Intuit were worth $349,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker’s stock valued at $2,114,950,000 after purchasing an additional 252,265 shares during the last quarter. Northern Trust Corp increased its position in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock valued at $2,118,682,000 after purchasing an additional 498,030 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on INTU. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Piper Sandler restated an “overweight” rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Barclays restated an “overweight” rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Oppenheimer restated an “outperform” rating and set a $742.00 price objective (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $800.55.

Intuit Trading Up 0.6%

Shares of NASDAQ:INTU opened at $785.95 on Friday. The business’s 50-day moving average is $755.39 and its 200 day moving average is $655.80. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60. The firm has a market capitalization of $219.24 billion, a P/E ratio of 63.79, a P/E/G ratio of 3.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company posted $9.88 EPS. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit’s dividend payout ratio is presently 33.77%.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer directly owned 197 shares of the company’s stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction dated Tuesday, May 27th. The shares were 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 $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,800 shares of company stock valued at $209,725,054. Insiders own 2.68% of the company’s stock.

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.