Knowledge Leaders Capital LLC Sells 72 Shares of Intuit Inc. (NASDAQ:INTU)

Knowledge Leaders Capital LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,293 shares of the software maker’s stock after selling 72 shares during the quarter. Intuit comprises about 2.3% of Knowledge Leaders Capital LLC’s investment portfolio, making the stock its 16th biggest position. Knowledge Leaders Capital LLC’s holdings in Intuit were worth $1,433,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Parnassus Investments LLC increased its stake in Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after acquiring an additional 609,512 shares during the last quarter. Wellington Management Group LLP increased its stake in Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after acquiring an additional 514,259 shares during the last quarter. International Assets Investment Management LLC increased its stake in Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after acquiring an additional 472,172 shares during the last quarter. FMR LLC increased its stake in Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after acquiring an additional 266,803 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Intuit by 56.2% during the third quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock worth $315,669,000 after acquiring an additional 222,317 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on INTU shares. Mizuho boosted their target price on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Oppenheimer boosted their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. KeyCorp boosted their target price on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, Piper Sandler boosted their target price on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $10.16 during mid-day trading on Friday, hitting $636.55. The stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a 50 day moving average of $640.26 and a two-hundred day moving average of $602.74. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The firm has a market cap of $178.23 billion, a PE ratio of 64.95, a PEG ratio of 3.81 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Research analysts predict 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 was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date was 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 company’s 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 directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Intuit Company 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.