Cookson Peirce & Co. Inc. Purchases 5,831 Shares of Intuit Inc. (NASDAQ:INTU)

Cookson Peirce & Co. Inc. lifted its position in Intuit Inc. (NASDAQ:INTU) by 14.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,116 shares of the software maker’s stock after purchasing an additional 5,831 shares during the period. Intuit comprises approximately 1.7% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its 16th biggest holding. Cookson Peirce & Co. Inc.’s holdings in Intuit were worth $28,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in INTU. Norges Bank bought a new stake in Intuit in the fourth quarter valued at $1,173,468,000. Moneta Group Investment Advisors LLC boosted its holdings in Intuit by 118,345.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after acquiring an additional 2,086,431 shares in the last quarter. Morgan Stanley boosted its holdings in Intuit by 42.5% in the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock valued at $1,340,830,000 after acquiring an additional 1,027,752 shares in the last quarter. Parnassus Investments LLC boosted its holdings in 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 acquiring an additional 609,512 shares in the last quarter. Finally, Wellington Management Group LLP boosted 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 valued at $690,244,000 after buying an additional 514,259 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $0.38 during mid-day trading on Tuesday, reaching $612.50. 544,034 shares of the company traded hands, compared to its average volume of 1,241,761. The company’s 50 day moving average price is $645.96 and its 200-day moving average price is $597.57. The firm has a market cap of $171.50 billion, a PE ratio of 62.54, a PEG ratio of 3.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company 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 was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. On average, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s payout ratio is 36.73%.

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 is available through this hyperlink. In related 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last three months. 2.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Stifel Nicolaus boosted their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Mizuho boosted their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

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.