Waterloo Capital L.P. Sells 291 Shares of Intuit Inc. (NASDAQ:INTU)

Waterloo Capital L.P. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 29.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 710 shares of the software maker’s stock after selling 291 shares during the quarter. Waterloo Capital L.P.’s holdings in Intuit were worth $467,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of INTU. Vanguard Group Inc. boosted its stake in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Wellington Management Group LLP boosted its position 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 acquiring an additional 2,336,654 shares in the last quarter. Fisher Asset Management LLC increased its stake in Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock valued at $1,946,954,000 after acquiring an additional 270,432 shares during the period. Principal Financial Group Inc. raised its position in Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Finally, Parnassus Investments LLC raised its position in 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 purchasing an additional 727,185 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was 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 directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,389 shares of company stock worth $14,231,188. Insiders own 2.90% of the company’s stock.

Intuit Stock Up 3.3 %

Shares of NASDAQ INTU opened at $654.24 on Friday. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The firm’s 50-day moving average is $636.76 and its 200-day moving average is $631.46. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $182.89 billion, a PE ratio of 60.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results 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 net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. Equities analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.64%. Intuit’s dividend payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 target price (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Bank of America upped their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup lifted their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $720.37.

Intuit Company 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.