Bailard Inc. Has $11.35 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Bailard Inc. lowered its stake in Intuit Inc. (NASDAQ:INTU) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,155 shares of the software maker’s stock after selling 932 shares during the quarter. Bailard Inc.’s holdings in Intuit were worth $11,347,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Intuit in the 3rd quarter valued at $51,000. V Square Quantitative Management LLC increased its position in shares of Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after buying an additional 482 shares in the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Intuit by 27.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after buying an additional 1,900 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC bought a new stake in shares of Intuit in the 4th quarter valued at $1,292,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Mizuho increased their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Barclays increased their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Piper Sandler increased their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Oppenheimer increased their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Performance

NASDAQ:INTU traded up $4.61 during mid-day trading on Wednesday, hitting $635.49. The stock had a trading volume of 1,376,556 shares, compared to its average volume of 1,250,610. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The stock has a market cap of $177.94 billion, a price-to-earnings ratio of 64.85, a PEG ratio of 3.71 and a beta of 1.21. The company’s 50 day simple moving average is $641.40 and its 200 day simple moving average is $601.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is 36.73%.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

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.