Simmons Bank Grows Position in Intuit Inc. (NASDAQ:INTU)

Simmons Bank increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 844 shares of the software maker’s stock after purchasing an additional 83 shares during the period. Simmons Bank’s holdings in Intuit were worth $528,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new stake in shares of Intuit during the third quarter worth about $25,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit during the fourth quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intuit during the third quarter worth approximately $26,000. MCF Advisors LLC lifted its holdings in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Finally, Aspire Private Capital LLC increased its stake in Intuit by 144.4% in the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 1.5 %

Shares of INTU stock traded down $9.36 during mid-day trading on Wednesday, hitting $631.79. 561,035 shares of the company’s stock were exchanged, compared to its average volume of 1,223,917. The stock has a market cap of $176.90 billion, a price-to-earnings ratio of 64.47, a PEG ratio of 3.83 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The stock has a 50-day simple moving average of $636.41 and a two-hundred day simple moving average of $608.45.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.05 EPS. Equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Transactions at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 in the last ninety days. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. KeyCorp lifted their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Mizuho upped their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus boosted their target price on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Barclays upped their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $650.23.

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.