L. Roy Papp & Associates LLP Buys 37 Shares of Intuit Inc. (NASDAQ:INTU)

L. Roy Papp & Associates LLP raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 7,802 shares of the software maker’s stock after acquiring an additional 37 shares during the period. L. Roy Papp & Associates LLP’s holdings in Intuit were worth $4,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Carnegie Investment Counsel grew its holdings in shares of Intuit by 5.3% during the 3rd quarter. Carnegie Investment Counsel now owns 591 shares of the software maker’s stock valued at $367,000 after purchasing an additional 30 shares during the last quarter. Koshinski Asset Management Inc. grew its position in Intuit by 8.5% during the 3rd quarter. Koshinski Asset Management Inc. now owns 974 shares of the software maker’s stock worth $605,000 after acquiring an additional 76 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Intuit by 21.4% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 397 shares of the software maker’s stock worth $247,000 after purchasing an additional 70 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Intuit by 8.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,237 shares of the software maker’s stock valued at $769,000 after purchasing an additional 93 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new position in Intuit in the third quarter valued at about $258,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $585.88 on Wednesday. The firm has a 50 day moving average of $625.25 and a 200-day moving average of $631.39. The company has a market cap of $164.00 billion, a price-to-earnings ratio of 56.88, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. 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.

Intuit (NASDAQ:INTU) last posted 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the company posted $1.14 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s payout ratio is currently 40.39%.

Wall Street Analyst Weigh In

INTU has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit 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.