Intuit Inc. (NASDAQ:INTU) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its holdings in Intuit Inc. (NASDAQ:INTU) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,439,315 shares of the software maker’s stock after selling 39,531 shares during the period. Intuit makes up approximately 2.4% of Ninety One UK Ltd’s investment portfolio, making the stock its 10th largest position. Ninety One UK Ltd owned about 0.51% of Intuit worth $904,609,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth approximately $27,000. Heck Capital Advisors LLC bought a new position in Intuit during the 4th quarter worth $28,000. Sugar Maple Asset Management LLC acquired a new position in Intuit in the 4th quarter valued at $29,000. Finally, Denver PWM LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $32,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on INTU. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. 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. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

INTU stock opened at $591.72 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market capitalization of $165.63 billion, a P/E ratio of 57.45, a PEG ratio of 2.96 and a beta of 1.25. The company has a fifty day moving average price of $630.27 and a 200-day moving average price of $633.00.

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

Intuit Dividend Announcement

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

Insider Buying and Selling

In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last quarter. Insiders own 2.68% 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.