Oak Ridge Investments LLC Lowers Stake in Intuit Inc. (NASDAQ:INTU)

Oak Ridge Investments LLC cut its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,746 shares of the software maker's stock after selling 803 shares during the quarter. Oak Ridge Investments LLC's holdings in Intuit were worth $9,268,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Intuit in the third quarter valued at $27,000. Denver PWM LLC acquired a new position in Intuit in the 3rd quarter valued at about $32,000. Dunhill Financial LLC raised its stake in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker's stock valued at $38,000 after acquiring an additional 32 shares during the last quarter. Groupama Asset Managment lifted its position in Intuit by 10.6% during the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker's stock worth $47,000 after acquiring an additional 720 shares during the period. Finally, Kimelman & Baird LLC purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $49,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of Intuit stock traded down $3.14 on Friday, hitting $604.13. The company's stock had a trading volume of 2,830,783 shares, compared to its average volume of 1,248,995. The company has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a fifty day moving average price of $646.09 and a 200-day moving average price of $636.93. 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 (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit's dividend payout ratio (DPR) is 40.39%.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada restated an "outperform" rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Morgan Stanley lifted their target price on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a report on Wednesday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $726.53.

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.