Geneva Capital Management LLC Sells 2,613 Shares of Intuit Inc. (NASDAQ:INTU)

Geneva Capital Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,405 shares of the software maker’s stock after selling 2,613 shares during the quarter. Geneva Capital Management LLC’s holdings in Intuit were worth $45,256,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Breed s Hill Capital LLC acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $390,000. Wealthspire Advisors LLC increased its stake in shares of Intuit by 3.3% in the fourth quarter. Wealthspire Advisors LLC now owns 2,476 shares of the software maker’s stock valued at $1,548,000 after buying an additional 79 shares during the period. Catalyst Financial Partners LLC raised its holdings in Intuit by 12.5% in the 4th quarter. Catalyst Financial Partners LLC now owns 880 shares of the software maker’s stock valued at $550,000 after buying an additional 98 shares during the last quarter. National Pension Service boosted its position in Intuit by 2.6% during the 4th quarter. National Pension Service now owns 528,632 shares of the software maker’s stock worth $330,411,000 after buying an additional 13,221 shares during the period. Finally, RMR Wealth Builders grew its holdings in Intuit by 9.6% during the 4th quarter. RMR Wealth Builders now owns 2,004 shares of the software maker’s stock worth $1,252,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock traded down $5.57 during trading hours on Thursday, reaching $626.86. The company had a trading volume of 1,292,678 shares, compared to its average volume of 1,228,763. The firm has a market cap of $175.52 billion, a PE ratio of 63.97, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The business has a fifty day simple moving average of $635.87 and a 200 day simple moving average of $608.61.

Intuit (NASDAQ:INTU) last announced 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 the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit 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 transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on INTU shares. Oppenheimer boosted their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Susquehanna lifted their price objective on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Evercore ISI increased their target price on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Piper Sandler upped their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

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.