Townsquare Capital LLC Has $10.92 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Townsquare Capital LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,781 shares of the software maker’s stock after acquiring an additional 1,160 shares during the period. Townsquare Capital LLC’s holdings in Intuit were worth $10,918,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new position in Intuit in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Olde Wealth Management LLC bought a new stake in shares of Intuit in the 1st quarter valued at approximately $37,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock valued at $50,000 after purchasing an additional 68 shares during the period. Finally, Hughes Financial Services LLC bought a new stake in shares of Intuit in the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley upped their price objective on Intuit from $785.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Barclays reiterated an “overweight” rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. KeyCorp reiterated an “overweight” rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Citigroup reiterated a “buy” rating and issued a $789.00 price objective (up from $726.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $806.27.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marianna Tessel sold 34,329 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 over the last three months. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

INTU stock opened at $749.00 on Friday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market cap of $208.93 billion, a P/E ratio of 60.80, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28. The business’s fifty day moving average is $769.27 and its 200-day moving average is $667.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $9.88 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.77%.

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.