Caprock Group LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Caprock Group LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 22.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,634 shares of the software maker’s stock after buying an additional 1,568 shares during the quarter. Caprock Group LLC’s holdings in Intuit were worth $5,427,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. New Wave Wealth Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter worth about $128,000. Institute for Wealth Management LLC. boosted its position in Intuit by 10.2% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,492 shares of the software maker’s stock worth $938,000 after purchasing an additional 138 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in shares of Intuit during the 4th quarter worth approximately $3,268,000. Cibc World Market Inc. increased its holdings in shares of Intuit by 284.5% during the 4th quarter. Cibc World Market Inc. now owns 58,084 shares of the software maker’s stock valued at $36,506,000 after purchasing an additional 42,976 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its stake in shares of Intuit by 79.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 108,849 shares of the software maker’s stock valued at $68,439,000 after purchasing an additional 48,091 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ INTU opened at $601.51 on Friday. 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 stock’s fifty day moving average is $631.72 and its two-hundred day moving average is $634.06. The firm has a market capitalization of $168.37 billion, a P/E ratio of 58.40, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

INTU has been the topic of several analyst reports. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Company 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.