Comgest Global Investors S.A.S. Has $281.88 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Comgest Global Investors S.A.S. reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 448,503 shares of the software maker's stock after selling 101,138 shares during the period. Intuit accounts for about 4.6% of Comgest Global Investors S.A.S.'s investment portfolio, making the stock its 9th biggest holding. Comgest Global Investors S.A.S. owned about 0.16% of Intuit worth $281,884,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. True North Advisors LLC increased its holdings in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after purchasing an additional 17 shares during the period. Great Diamond Partners LLC lifted its stake in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock worth $394,000 after acquiring an additional 17 shares during the period. Pacifica Partners Inc. boosted its holdings in shares of Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock valued at $52,000 after acquiring an additional 18 shares in the last quarter. Drive Wealth Management LLC increased its stake in shares of Intuit by 2.4% during the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock valued at $478,000 after acquiring an additional 18 shares during the period. Finally, NewSquare Capital LLC raised its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on INTU. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $600.00 to $700.00 in a research note on Thursday. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Morgan Stanley decreased their target price on Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Oppenheimer lowered their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $718.56.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's 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 transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last ninety days. Insiders own 2.68% of the company's stock.

Intuit Trading Down 0.5 %

Shares of INTU traded down $2.70 during trading hours on Friday, hitting $585.38. 1,639,806 shares of the stock traded hands, compared to its average volume of 1,575,512. The business has a fifty day moving average of $592.03 and a 200-day moving average of $616.49. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $163.65 billion, a PE ratio of 56.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is 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.