Intuit Inc. (NASDAQ:INTU) Shares Purchased by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,483 shares of the software maker’s stock after buying an additional 197 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Intuit were worth $922,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Sustainable Insight Capital Management LLC purchased a new stake in shares of Intuit during the third quarter valued at approximately $294,000. Atria Investments Inc raised its position in shares of Intuit by 3.0% in the 3rd quarter. Atria Investments Inc now owns 28,213 shares of the software maker’s stock valued at $17,520,000 after purchasing an additional 821 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Intuit by 9.0% during the 3rd quarter. First Personal Financial Services now owns 5,361 shares of the software maker’s stock valued at $3,329,000 after buying an additional 444 shares during the last quarter. Oxbow Advisors LLC increased its stake in shares of Intuit by 16.3% in the third quarter. Oxbow Advisors LLC now owns 520 shares of the software maker’s stock worth $323,000 after buying an additional 73 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Intuit by 10.9% during the 3rd quarter. Assetmark Inc. now owns 62,095 shares of the software maker’s stock valued at $38,561,000 after acquiring an additional 6,098 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $697.35 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 1-year low of $523.32 and a 1-year high of $698.96. The firm has a fifty day simple moving average of $625.54 and a 200-day simple moving average of $627.73. The stock has a market capitalization of $195.46 billion, a price-to-earnings ratio of 66.73, a PEG ratio of 3.34 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for 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%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. On average, sell-side analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

Analyst Ratings Changes

A number of equities analysts recently commented on INTU shares. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Piper Sandler restated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the company’s 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 completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

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.