Bahl & Gaynor Inc. Sells 125 Shares of Intuit Inc. (NASDAQ:INTU)

Bahl & Gaynor Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136 shares of the software maker’s stock after selling 125 shares during the period. Bahl & Gaynor Inc.’s holdings in Intuit were worth $710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after acquiring an additional 117,478 shares during the last quarter. FMR LLC raised its position in Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares during the last quarter. Morgan Stanley raised its position in Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after purchasing an additional 137,198 shares during the last quarter. Northern Trust Corp raised its position in Intuit by 5.2% in the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after purchasing an additional 160,229 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Intuit by 6.6% during the third quarter. Invesco Ltd. now owns 3,091,645 shares of the software maker’s stock worth $1,579,645,000 after acquiring an additional 190,582 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last 90 days. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Susquehanna raised their target price on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. KeyCorp boosted their target price on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Wells Fargo & Company boosted their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Finally, Piper Sandler boosted their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Intuit Trading Up 1.6 %

NASDAQ INTU opened at $636.55 on Friday. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $640.26 and a 200-day moving average of $603.18. The firm has a market cap of $178.23 billion, a PE ratio of 64.95, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the company posted $1.05 EPS. Intuit’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

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

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.