Sapient Capital LLC Buys Shares of 36,426 Intuit Inc. (NASDAQ:INTU)

Sapient Capital LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,426 shares of the software maker’s stock, valued at approximately $22,767,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Intuit in the third quarter valued at about $51,000. V Square Quantitative Management LLC lifted its stake in shares of Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after buying an additional 482 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares in the last quarter. Hixon Zuercher LLC purchased a new stake in shares of Intuit during the 4th quarter valued at approximately $1,292,000. Finally, Signature Wealth Management Group purchased a new stake in shares of Intuit during the 4th quarter valued at approximately $1,747,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. KeyCorp upped their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Oppenheimer upped their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Piper Sandler upped their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Mizuho upped their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

In other Intuit news, 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 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 approximately $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on 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 directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Trading Up 2.5 %

Shares of INTU stock traded up $15.23 on Friday, hitting $629.27. 1,109,512 shares of the company’s stock traded hands, compared to its average volume of 1,209,705. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The company’s fifty day simple moving average is $637.56 and its 200 day simple moving average is $605.68. The stock has a market capitalization of $176.20 billion, a price-to-earnings ratio of 64.21, a P/E/G ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm earned $1.05 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 11.27 EPS for the current 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 issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

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.