American Century Companies Inc. Acquires 4,913 Shares of Intuit Inc. (NASDAQ:INTU)

American Century Companies Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,454 shares of the software maker’s stock after acquiring an additional 4,913 shares during the period. American Century Companies Inc.’s holdings in Intuit were worth $33,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Linscomb Wealth Inc. bought a new stake in Intuit during the 2nd quarter worth approximately $244,000. Ground Swell Capital LLC bought a new stake in Intuit during the second quarter worth $599,000. Trifecta Capital Advisors LLC raised its position in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after buying an additional 35 shares during the last quarter. Wellington Shields & Co. LLC lifted its stake in Intuit by 19.9% during the 2nd quarter. Wellington Shields & Co. LLC now owns 181 shares of the software maker’s stock valued at $119,000 after acquiring an additional 30 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Intuit by 4.7% during the 2nd quarter. LPL Financial LLC now owns 183,248 shares of the software maker’s stock worth $120,433,000 after acquiring an additional 8,266 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on INTU shares. Stifel Nicolaus increased their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada began coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Susquehanna reiterated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $768.00 price objective (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Trading Down 0.2 %

NASDAQ:INTU opened at $644.82 on Wednesday. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The stock’s fifty day moving average price is $636.25 and its two-hundred day moving average price is $631.29. 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 company has a market cap of $180.26 billion, a P/E ratio of 59.49, a P/E/G ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $0.40 EPS. As a group, analysts expect that Intuit Inc. will post 14.06 EPS for the current 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 paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.65%. Intuit’s dividend payout ratio is currently 38.38%.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business’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 completion of the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The disclosure for this sale can be found here. Insiders sold a total of 16,940 shares of company stock valued at $10,721,252 in the last three months. Company insiders own 2.90% of the company’s stock.

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.