Verde Capital Management Has $734,000 Stake in Intuit Inc. (NASDAQ:INTU)

Verde Capital Management lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 78.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,169 shares of the software maker’s stock after acquiring an additional 515 shares during the quarter. Verde Capital Management’s holdings in Intuit were worth $734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Thrivent Financial for Lutherans boosted its position in Intuit by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock valued at $9,427,000 after buying an additional 186 shares during the last quarter. AlTi Global Inc. boosted its holdings in Intuit by 7.4% in the second quarter. AlTi Global Inc. now owns 784 shares of the software maker’s stock valued at $515,000 after acquiring an additional 54 shares during the last quarter. AQR Capital Management LLC raised its holdings in Intuit by 37.3% during the 2nd quarter. AQR Capital Management LLC now owns 50,487 shares of the software maker’s stock worth $32,954,000 after purchasing an additional 13,721 shares during the last quarter. APG Asset Management US Inc. lifted its position in Intuit by 2.1% during the 2nd quarter. APG Asset Management US Inc. now owns 87,476 shares of the software maker’s stock valued at $56,927,000 after purchasing an additional 1,838 shares during the period. Finally, APG Asset Management N.V. grew its position in shares of Intuit by 4.0% during the 2nd quarter. APG Asset Management N.V. now owns 216,186 shares of the software maker’s stock worth $132,568,000 after buying an additional 8,262 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total transaction of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at $403,414.48. The trade was a 66.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on INTU shares. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Finally, Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

Shares of INTU opened at $598.30 on Friday. The stock has a market capitalization of $167.48 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 3.00 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a fifty day simple moving average of $640.53 and a 200 day simple moving average of $635.79. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.14 billion. During the same quarter last year, the company earned $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

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.