IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 22 Shares of Intuit Inc. (NASDAQ:INTU)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 325 shares of the software maker’s stock after selling 22 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Intuit were worth $202,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Performance

INTU stock opened at $609.23 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50-day moving average price of $630.74 and a 200 day moving average price of $627.72. The company has a market capitalization of $170.31 billion, a P/E ratio of 56.20, a PEG ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. As a group, equities research analysts forecast that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s payout ratio is currently 38.38%.

Analysts Set New Price Targets

Several research firms have recently issued reports on INTU. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Finally, Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $735.71.

Intuit 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.