Ninety One North America Inc. Has $49.30 Million Position in Intuit Inc. (NASDAQ:INTU)

Ninety One North America Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,438 shares of the software maker’s stock after selling 3,302 shares during the period. Intuit comprises about 3.1% of Ninety One North America Inc.’s investment portfolio, making the stock its 9th biggest holding. Ninety One North America Inc.’s holdings in Intuit were worth $49,298,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. RFG Holdings Inc. grew its holdings in Intuit by 15.5% during the fourth quarter. RFG Holdings Inc. now owns 1,219 shares of the software maker’s stock valued at $768,000 after purchasing an additional 164 shares during the period. E. Ohman J or Asset Management AB grew its holdings in Intuit by 2.0% during the fourth quarter. E. Ohman J or Asset Management AB now owns 74,254 shares of the software maker’s stock valued at $46,669,000 after purchasing an additional 1,480 shares during the period. Mather Group LLC. lifted its position in shares of Intuit by 7.6% in the fourth quarter. Mather Group LLC. now owns 3,056 shares of the software maker’s stock valued at $1,921,000 after acquiring an additional 216 shares in the last quarter. Rockline Wealth Management LLC lifted its position in shares of Intuit by 5.7% in the fourth quarter. Rockline Wealth Management LLC now owns 982 shares of the software maker’s stock valued at $617,000 after acquiring an additional 53 shares in the last quarter. Finally, Trust Point Inc. lifted its position in shares of Intuit by 9.3% in the fourth quarter. Trust Point Inc. now owns 2,300 shares of the software maker’s stock valued at $1,446,000 after acquiring an additional 196 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INTU shares. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insiders Place Their Bets

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $600.50 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $168.09 billion, a P/E ratio of 58.43, a P/E/G ratio of 2.96 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. The firm’s 50 day moving average is $630.95 and its two-hundred day moving average is $633.26.

Intuit (NASDAQ:INTU) last issued its 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 business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

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