Commerzbank Aktiengesellschaft FI Purchases 450 Shares of Intuit Inc. (NASDAQ:INTU)

Commerzbank Aktiengesellschaft FI grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 32.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,831 shares of the software maker’s stock after buying an additional 450 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Intuit were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after purchasing an additional 285,328 shares during the last quarter. Vanguard Group Inc. boosted its stake in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Intuit in the second quarter valued at approximately $184,982,000. Ameriprise Financial Inc. boosted its stake in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Bank of America raised their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Down 1.2 %

Intuit stock opened at $602.01 on Thursday. The company has a market cap of $168.29 billion, a P/E ratio of 55.54, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a fifty day simple moving average of $628.71 and a 200 day simple moving average of $627.16. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 38.38%.

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. Company insiders own 2.90% of the company’s stock.

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.