Kesler Norman & Wride LLC Invests $1.19 Million in Intuit Inc. (NASDAQ:INTU)

Kesler Norman & Wride LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,908 shares of the software maker’s stock, valued at approximately $1,187,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter worth $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter worth approximately $35,000. Finally, Trifecta Capital Advisors LLC boosted its position in shares of Intuit by 145.8% in the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research reports. Royal Bank of Canada began coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Citigroup increased their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Down 1.3 %

NASDAQ INTU opened at $602.43 on Tuesday. The stock has a market capitalization of $168.41 billion, a P/E ratio of 55.57, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a fifty day moving average of $632.84 and a 200-day moving average of $629.49.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. 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 available at this link. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,297 shares of company stock worth $32,750,926. Insiders own 2.90% of the company’s stock.

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.