DRW Securities LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

DRW Securities LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 114.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,865 shares of the software maker’s stock after purchasing an additional 1,531 shares during the period. DRW Securities LLC’s holdings in Intuit were worth $1,883,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of INTU. EverSource Wealth Advisors LLC increased its holdings in shares of Intuit by 14.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 525 shares of the software maker’s stock worth $340,000 after buying an additional 68 shares during the last quarter. Fernbridge Capital Management LP increased its stake in Intuit by 42.3% during the second quarter. Fernbridge Capital Management LP now owns 118,080 shares of the software maker’s stock worth $77,603,000 after acquiring an additional 35,110 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of Intuit by 42,735.7% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 5,997 shares of the software maker’s stock worth $3,941,000 after purchasing an additional 5,983 shares during the period. Kowal Investment Group LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $248,000. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Intuit by 2.2% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,106 shares of the software maker’s stock worth $727,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and set a $768.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, August 23rd. Barclays lowered their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Trading Down 1.4 %

NASDAQ INTU opened at $644.99 on Friday. The company has a market capitalization of $180.31 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company’s fifty day moving average price is $636.82 and its two-hundred day moving average price is $631.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.64%. Intuit’s dividend payout ratio (DPR) is 38.38%.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction 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 sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The disclosure for this sale can be found here. Insiders sold a total of 22,389 shares of company stock valued at $14,231,188 over the last 90 days. 2.90% of the stock is owned by company insiders.

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.