DRW Securities LLC Sells 917 Shares of Intuit Inc. (NASDAQ:INTU)

DRW Securities LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 33.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,811 shares of the software maker's stock after selling 917 shares during the period. DRW Securities LLC's holdings in Intuit were worth $1,138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Vanguard Group Inc. boosted its position in Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the period. Geode Capital Management LLC boosted its position in shares of Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after buying an additional 132,384 shares during the period. Wellington Management Group LLP grew its stake in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Norges Bank purchased a new stake in shares of Intuit during the 4th quarter valued at about $2,290,419,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction 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 transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

INTU has been the subject of a number of recent analyst reports. StockNews.com lowered Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Oppenheimer reduced their price objective on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research note on Friday. Scotiabank dropped their target price on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Finally, Mizuho boosted 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $713.56.

Intuit Stock Performance

INTU stock traded up $5.06 on Tuesday, reaching $598.61. The company's stock had a trading volume of 389,458 shares, compared to its average volume of 1,562,416. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The company has a market capitalization of $167.35 billion, a P/E ratio of 58.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The firm has a fifty day moving average of $591.81 and a two-hundred day moving average of $617.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given 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 0.69%. Intuit's dividend payout ratio is presently 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.