Intuit Inc. (NASDAQ:INTU) Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,473 shares of the software maker’s stock after buying an additional 1,075 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Intuit were worth $7,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Intuit by 0.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 235,248 shares of the software maker’s stock valued at $147,855,000 after purchasing an additional 1,113 shares during the last quarter. MJP Associates Inc. ADV grew its position in shares of Intuit by 4.6% in the fourth quarter. MJP Associates Inc. ADV now owns 1,863 shares of the software maker’s stock valued at $1,171,000 after purchasing an additional 82 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Intuit by 15.8% in the fourth quarter. Lazard Asset Management LLC now owns 100,681 shares of the software maker’s stock valued at $63,276,000 after purchasing an additional 13,746 shares during the last quarter. LRI Investments LLC grew its position in shares of Intuit by 9.1% in the fourth quarter. LRI Investments LLC now owns 513 shares of the software maker’s stock valued at $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Lionshead Wealth Management LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $347,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTU. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Piper Sandler reissued an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BMO Capital Markets reduced their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $717.53.

Intuit Stock Performance

NASDAQ:INTU opened at $656.80 on Wednesday. The firm’s 50 day moving average is $604.28 and its two-hundred day moving average is $618.26. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $183.62 billion, a P/E ratio of 63.77, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,696 shares of company stock valued at $14,347,731. Company insiders own 2.68% 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.