Penserra Capital Management LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Penserra Capital Management LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,890 shares of the software maker’s stock after purchasing an additional 34 shares during the quarter. Penserra Capital Management LLC’s holdings in Intuit were worth $1,793,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit in the second quarter valued at approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Down 0.9 %

Shares of INTU opened at $634.62 on Tuesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a fifty day moving average of $634.58 and a two-hundred day moving average of $631.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $177.77 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INTU. BMO Capital Markets increased their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock valued at $35,200,125 over the last quarter. Company insiders own 2.90% of the company’s stock.

Intuit 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.