Olympiad Research LP Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Olympiad Research LP boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 87.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,277 shares of the software maker’s stock after purchasing an additional 597 shares during the period. Olympiad Research LP’s holdings in Intuit were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC purchased a new position in Intuit during the 2nd quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Barclays cut their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Price Performance

Shares of NASDAQ INTU opened at $648.39 on Thursday. The stock has a market cap of $181.74 billion, a price-to-earnings ratio of 62.05, a PEG ratio of 3.03 and a beta of 1.25. Intuit Inc. has a 52 week low of $506.97 and a 52 week high of $676.62. The company’s 50-day moving average price is $623.43 and its 200 day moving average price is $626.96. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. As a group, research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

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.