Intech Investment Management LLC Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

Intech Investment Management LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,689 shares of the software maker’s stock after selling 264 shares during the period. Intech Investment Management LLC’s holdings in Intuit were worth $2,947,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new position in shares of Intuit during the fourth quarter worth $621,000. Retireful LLC purchased a new position in shares of Intuit during the third quarter worth $740,000. Howe & Rusling Inc. boosted its position in shares of Intuit by 8.0% during the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after buying an additional 808 shares during the period. Finally, Beacon Investment Advisory Services Inc. boosted its position in shares of Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after buying an additional 1,602 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, BMO Capital Markets decreased their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,646 shares of company stock worth $72,494,045. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.7 %

Intuit stock opened at $603.11 on Thursday. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $168.61 billion, a PE ratio of 58.55, a P/E/G ratio of 2.85 and a beta of 1.27. The stock’s fifty day moving average is $596.98 and its two-hundred day moving average is $623.15.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

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.