Intuit Inc. (NASDAQ:INTU) Position Reduced by Ninety One UK Ltd

Ninety One UK Ltd lessened its stake in Intuit Inc. (NASDAQ:INTU) by 25.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,450,564 shares of the software maker’s stock after selling 491,610 shares during the quarter. Intuit accounts for about 2.7% of Ninety One UK Ltd’s investment portfolio, making the stock its 7th biggest holding. Ninety One UK Ltd’s holdings in Intuit were worth $906,646,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of INTU. NewSquare Capital LLC purchased a new position in shares of Intuit during the 3rd quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new position in shares of Intuit during the 3rd quarter valued at approximately $26,000. Steward Financial Group LLC lifted its position in shares of Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after buying an additional 20 shares in the last quarter. Webster Bank N. A. purchased a new position in shares of Intuit during the 4th quarter valued at approximately $41,000. Finally, Aspire Private Capital LLC lifted its position in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.9 %

Shares of NASDAQ:INTU traded down $5.39 during midday trading on Thursday, reaching $607.82. 297,981 shares of the company’s stock were exchanged, compared to its average volume of 1,237,135. The firm’s 50 day simple moving average is $644.88 and its two-hundred day simple moving average is $598.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $170.19 billion, a price-to-earnings ratio of 62.54, a P/E/G ratio of 3.72 and a beta of 1.21. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the business posted $1.05 EPS. Intuit’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Evercore ISI increased their price objective on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Barclays increased their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus increased their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $645.00.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated 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 transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last three months. 2.90% of the stock is owned by company insiders.

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.