Waterloo Capital L.P. Has $467,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Waterloo Capital L.P. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 29.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 710 shares of the software maker’s stock after selling 291 shares during the quarter. Waterloo Capital L.P.’s holdings in Intuit were worth $467,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp bought a new stake in Intuit in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $654.24 on Friday. The company’s 50-day moving average price is $636.76 and its two-hundred day moving average price is $631.46. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $182.89 billion, a P/E ratio of 60.35, a P/E/G ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,389 shares of company stock valued at $14,231,188. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, August 23rd. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Finally, Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

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.