Tidal Investments LLC Has $8.91 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Tidal Investments LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 47.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,355 shares of the software maker’s stock after purchasing an additional 4,620 shares during the quarter. Tidal Investments LLC’s holdings in Intuit were worth $8,914,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Geode Capital Management LLC increased its holdings in Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares during the period. Legal & General Group Plc boosted its stake in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred 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 directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now directly owns 33,916 shares in the company, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,732 shares of company stock worth $81,378,070. 2.68% of the stock is owned by company insiders.

Intuit Trading Up 0.3 %

Shares of INTU opened at $672.25 on Friday. The firm has a market cap of $188.18 billion, a P/E ratio of 65.27, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day moving average of $639.04 and a 200 day moving average of $631.28.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company posted $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

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.