Qsemble Capital Management LP Takes Position in Intuit Inc. (NASDAQ:INTU)

Qsemble Capital Management LP purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,977 shares of the software maker’s stock, valued at approximately $3,091,000.

Other large investors have also recently bought and sold shares of the company. Bowie Capital Management LLC boosted its stake in shares of Intuit by 5.8% in the 3rd quarter. Bowie Capital Management LLC now owns 135,972 shares of the software maker’s stock valued at $84,439,000 after purchasing an additional 7,453 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Intuit in the third quarter valued at about $2,385,000. Hancock Whitney Corp grew its stake in Intuit by 326.9% during the third quarter. Hancock Whitney Corp now owns 18,767 shares of the software maker’s stock worth $11,654,000 after buying an additional 14,371 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Intuit by 5.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,999 shares of the software maker’s stock valued at $3,104,000 after acquiring an additional 276 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related 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 value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday. Bank of America boosted 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. Finally, Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

Shares of Intuit stock opened at $634.62 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $177.77 billion, a price-to-earnings ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The stock’s 50-day moving average is $634.58 and its 200-day moving average is $631.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. Equities analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

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.