Connor Clark & Lunn Investment Management Ltd. Has $59.71 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,003 shares of the software maker's stock after selling 7,937 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Intuit were worth $59,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC grew its position in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after acquiring an additional 1,062,847 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at $300,854,000. Holocene Advisors LP raised its holdings in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock valued at $388,487,000 after buying an additional 312,212 shares during the last quarter. Nordea Investment Management AB lifted its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after buying an additional 268,060 shares in the last quarter. Finally, State Street Corp lifted its position in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock worth $7,648,910,000 after buying an additional 221,885 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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Intuit Trading Down 1.7 %

Shares of INTU stock traded down $9.82 on Thursday, hitting $581.32. The stock had a trading volume of 2,269,071 shares, compared to its average volume of 1,917,570. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a fifty day moving average price of $598.85 and a two-hundred day moving average price of $623.76. The firm has a market cap of $162.51 billion, a P/E ratio of 56.44, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit's payout ratio is 38.81%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INTU shares. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average price target of $721.61.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company's stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

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.