DGS Capital Management LLC Lowers Stake in Intuit Inc. (NASDAQ:INTU)

DGS Capital Management LLC reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,179 shares of the software maker’s stock after selling 113 shares during the period. DGS Capital Management LLC’s holdings in Intuit were worth $737,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of INTU. OFI Invest Asset Management purchased a new position in Intuit in the third quarter worth about $51,000. V Square Quantitative Management LLC grew its stake in shares of Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after acquiring an additional 482 shares during the period. Compagnie Lombard Odier SCmA grew its stake in shares of Intuit by 27.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock worth $4,496,000 after acquiring an additional 1,900 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after acquiring an additional 2,074 shares during the period. Finally, Hixon Zuercher LLC bought a new stake in shares of Intuit in the fourth quarter worth approximately $1,292,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. 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 research report on Friday, February 23rd. Barclays boosted their target price on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Finally, Mizuho boosted their target price on shares of Intuit from $670.00 to $725.00 and gave the company 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 data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Up 0.7 %

Intuit stock traded up $4.24 during midday trading on Tuesday, hitting $616.36. 352,298 shares of the company’s stock were exchanged, compared to its average volume of 1,239,138. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm has a 50-day moving average of $645.96 and a two-hundred day moving average of $597.57. The company has a market cap of $172.58 billion, a PE ratio of 62.54, a P/E/G ratio of 3.78 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the business earned $1.05 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by insiders.

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.