Intuit Inc. (NASDAQ:INTU) Stock Holdings Lifted by Cinctive Capital Management LP

Cinctive Capital Management LP boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 497.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,289 shares of the software maker's stock after purchasing an additional 6,901 shares during the period. Cinctive Capital Management LP's holdings in Intuit were worth $5,210,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. R Squared Ltd bought a new stake in Intuit during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the fourth quarter worth approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit in the fourth quarter valued at about $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTU has been the subject of a number of recent research reports. Morgan Stanley raised Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price target for the company in a research report on Wednesday, February 26th. Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group decreased their target price on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $718.00.

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Intuit Stock Performance

INTU traded down $37.00 on Friday, reaching $561.53. The company had a trading volume of 3,334,095 shares, compared to its average volume of 1,542,889. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The stock has a 50-day moving average price of $595.64 and a 200-day moving average price of $620.96. The stock has a market capitalization of $156.98 billion, a PE ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.74%. Intuit's payout ratio is currently 38.81%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 1,300 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares of the company's stock, valued at $403,414.48. This represents a 66.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock worth $18,767,673 in the last three months. 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.