Apexium Financial LP Takes Position in Intuit Inc. (NASDAQ:INTU)

Apexium Financial LP bought a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 395 shares of the software maker’s stock, valued at approximately $248,000.

Other hedge funds also recently bought and sold shares of the company. Brown Financial Advisors grew its stake in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of Intuit by 3.3% during the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after acquiring an additional 17 shares in the last quarter. Chris Bulman Inc increased its holdings in shares of Intuit by 1.1% during the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after acquiring an additional 17 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in Intuit by 1.8% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock worth $604,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 1.4 %

Shares of INTU opened at $606.62 on Tuesday. The firm has a market cap of $169.81 billion, a P/E ratio of 58.90, a PEG ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock’s 50 day moving average is $636.69 and its two-hundred day moving average is $635.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. Analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. 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 payout ratio is 40.39%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit 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.