One Capital Management LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

One Capital Management LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 307 shares of the software maker’s stock, valued at approximately $202,000.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Intech Investment Management LLC grew its holdings in shares of Intuit by 134.7% in the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after buying an additional 2,641 shares during the period. Parnassus Investments LLC increased its holdings in shares of Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after purchasing an additional 1,990 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Insiders sold 16,940 shares of company stock worth $10,721,252 over the last three months. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $633.07 on Thursday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a market cap of $176.97 billion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The business’s 50 day moving average price is $636.26 and its two-hundred day moving average price is $631.30. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, August 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $720.37.

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.