Thrivent Financial for Lutherans Acquires 388 Shares of Intuit Inc. (NASDAQ:INTU)

Thrivent Financial for Lutherans increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 14,733 shares of the software maker’s stock after buying an additional 388 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Intuit were worth $9,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concord Asset Management LLC VA raised its stake in shares of Intuit by 12.3% during the 3rd quarter. Concord Asset Management LLC VA now owns 1,383 shares of the software maker’s stock worth $859,000 after purchasing an additional 151 shares during the period. Atlanta Consulting Group Advisors LLC bought a new stake in Intuit in the third quarter worth about $396,000. Sather Financial Group Inc boosted its stake in Intuit by 0.7% in the third quarter. Sather Financial Group Inc now owns 71,623 shares of the software maker’s stock valued at $44,478,000 after acquiring an additional 508 shares during the last quarter. Schear Investment Advisers LLC grew its position in shares of Intuit by 6.1% during the 3rd quarter. Schear Investment Advisers LLC now owns 1,766 shares of the software maker’s stock valued at $1,097,000 after acquiring an additional 102 shares during the period. Finally, Turtle Creek Wealth Advisors LLC increased its stake in shares of Intuit by 3.4% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 9,758 shares of the software maker’s stock worth $6,060,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $679.40 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 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $190.31 billion, a PE ratio of 65.01, a price-to-earnings-growth ratio of 3.15 and a beta of 1.25. The stock has a 50-day moving average price of $635.12 and a 200-day moving average price of $631.23.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, equities analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays increased their price objective on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Five 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 price target of $737.06.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Company 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.