Intuit Inc. (NASDAQ:INTU) is DSM Capital Partners LLC’s 9th Largest Position

DSM Capital Partners LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 15.4% during the 4th quarter, Holdings Channel reports. The firm owned 343,174 shares of the software maker’s stock after selling 62,241 shares during the period. Intuit makes up approximately 3.3% of DSM Capital Partners LLC’s investment portfolio, making the stock its 9th biggest position. DSM Capital Partners LLC’s holdings in Intuit were worth $215,685,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of INTU. Resonant Capital Advisors LLC bought a new position in shares of Intuit during the third quarter valued at approximately $211,000. Trilogy Capital Inc. increased its position in Intuit by 26.5% during the 3rd quarter. Trilogy Capital Inc. now owns 2,655 shares of the software maker’s stock valued at $1,649,000 after purchasing an additional 557 shares during the period. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. lifted its position in shares of Intuit by 7.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 365 shares of the software maker’s stock worth $227,000 after purchasing an additional 26 shares during the period. Finally, Ledyard National Bank lifted its position in shares of Intuit by 12.5% in the 3rd quarter. Ledyard National Bank now owns 569 shares of the software maker’s stock worth $353,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.3 %

INTU stock opened at $579.94 on Wednesday. The stock has a market capitalization of $162.34 billion, a P/E ratio of 56.30, a P/E/G ratio of 2.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business has a fifty day moving average price of $617.68 and a 200-day moving average price of $629.18.

Intuit (NASDAQ:INTU) last issued 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Intuit’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. 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 company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

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.