Global X Japan Co. Ltd. Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Global X Japan Co. Ltd. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,945 shares of the software maker’s stock after buying an additional 2,749 shares during the period. Intuit makes up about 2.7% of Global X Japan Co. Ltd.’s portfolio, making the stock its 13th biggest holding. Global X Japan Co. Ltd.’s holdings in Intuit were worth $21,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Holocene Advisors LP raised its holdings in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. State Street Corp grew its position in shares of Intuit by 1.8% during the third 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 last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Intuit in the 4th quarter valued at about $104,278,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.3 %

Shares of INTU opened at $590.20 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $628.37 and its 200 day moving average is $632.37. The company has a market capitalization of $165.21 billion, a PE ratio of 57.30, a price-to-earnings-growth ratio of 2.96 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its 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 during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on INTU shares. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, 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 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 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.