South Dakota Investment Council Has $813,000 Stake in Intuit Inc. (NASDAQ:INTU)

South Dakota Investment Council reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300 shares of the software maker’s stock after selling 300 shares during the quarter. South Dakota Investment Council’s holdings in Intuit were worth $813,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in shares of Intuit in the third quarter valued at $51,000. V Square Quantitative Management LLC raised its stake in shares of Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after acquiring an additional 482 shares during the last quarter. Compagnie Lombard Odier SCmA raised its stake in shares of Intuit by 27.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock worth $4,496,000 after acquiring an additional 1,900 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $1,292,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

INTU stock opened at $626.39 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The stock has a market cap of $175.39 billion, a PE ratio of 63.92, a price-to-earnings-growth ratio of 3.87 and a beta of 1.21. The stock has a 50-day moving average price of $640.64 and a two-hundred day moving average price of $602.03.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. Equities analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INTU. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Barclays lifted their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Piper Sandler upped their target price on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity

In related news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last quarter. 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.