Applied Finance Capital Management LLC Buys New Holdings in Intuit Inc. (NASDAQ:INTU)

Applied Finance Capital Management LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,782 shares of the software maker's stock, valued at approximately $1,748,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nordea Investment Management AB raised its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after buying an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit during the 4th quarter valued at approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after buying an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. lifted its position in Intuit by 3.8% in 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 last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock worth $15,502,000 after buying an additional 12,916 shares during the period. Institutional investors own 83.66% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INTU shares. BMO Capital Markets lowered their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group decreased their price target on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $713.56.

Intuit Stock Up 1.7 %

Shares of Intuit stock traded up $9.57 on Friday, reaching $587.04. The stock had a trading volume of 1,479,882 shares, compared to its average volume of 1,567,880. 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 stock has a market capitalization of $164.11 billion, a P/E ratio of 56.99, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a 50 day moving average price of $591.70 and a 200 day moving average price of $617.55. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares of the company's stock, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. Corporate 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.