Mattern Capital Management LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Mattern Capital Management LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 953 shares of the software maker’s stock after buying an additional 104 shares during the period. Mattern Capital Management LLC’s holdings in Intuit were worth $599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. R Squared Ltd purchased a new position in Intuit in the 4th quarter worth about $25,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the fourth quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new position in Intuit during the fourth quarter valued at $29,000. Finally, Denver PWM LLC purchased a new position in Intuit during the third quarter valued at $32,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on INTU shares. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a research note on Wednesday. They set a “neutral” rating on the stock. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Down 0.5 %

Intuit stock opened at $579.08 on Friday. The business has a fifty day moving average of $614.05 and a two-hundred day moving average of $628.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $162.10 billion, a P/E ratio of 56.22, a P/E/G ratio of 2.86 and a beta of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. Intuit’s revenue was up 10.2% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction 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 the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

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.