Davidson Capital Management Inc. Grows Position in Intuit Inc. (NASDAQ:INTU)

Davidson Capital Management Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,371 shares of the software maker’s stock after purchasing an additional 227 shares during the period. Intuit accounts for 0.9% of Davidson Capital Management Inc.’s holdings, making the stock its 29th biggest position. Davidson Capital Management Inc.’s holdings in Intuit were worth $3,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Carnegie Investment Counsel boosted its holdings in Intuit by 5.3% in the 3rd quarter. Carnegie Investment Counsel now owns 591 shares of the software maker’s stock worth $367,000 after buying an additional 30 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of Intuit by 8.5% in the third quarter. Koshinski Asset Management Inc. now owns 974 shares of the software maker’s stock valued at $605,000 after acquiring an additional 76 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Intuit by 21.4% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 397 shares of the software maker’s stock worth $247,000 after acquiring an additional 70 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Intuit by 8.1% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,237 shares of the software maker’s stock worth $769,000 after purchasing an additional 93 shares in the last quarter. Finally, Fiduciary Alliance LLC bought a new stake in Intuit during the 3rd quarter valued at approximately $258,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Down 0.2 %

Shares of INTU opened at $585.88 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market cap of $164.00 billion, a PE ratio of 56.88, a P/E/G ratio of 2.91 and a beta of 1.24. The business has a fifty day moving average of $625.25 and a 200 day moving average of $631.39.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s dividend payout ratio is 40.39%.

Analyst Ratings Changes

INTU has been the subject of several recent analyst reports. Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $726.53.

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.