Sei Investments Co. Sells 211,860 Shares of Intuit Inc. (NASDAQ:INTU)

Sei Investments Co. cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 38.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 334,552 shares of the software maker's stock after selling 211,860 shares during the quarter. Sei Investments Co. owned approximately 0.12% of Intuit worth $210,274,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Proficio Capital Partners LLC lifted its holdings 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 valued at $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Intuit during the fourth quarter worth approximately $300,854,000. Holocene Advisors LP increased its holdings in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock worth $388,487,000 after buying an additional 312,212 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in shares of Intuit by 20.7% in the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker's stock worth $898,344,000 after acquiring an additional 245,372 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

INTU has been the subject of a number of recent analyst reports. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Citigroup cut their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Scotiabank decreased their price objective on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Finally, BMO Capital Markets dropped their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $721.61.

Insider Buying and Selling at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now owns 35,776 shares of the company's stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,896 shares of company stock valued at $82,946,716. Company insiders own 2.68% of the company's stock.

Intuit Trading Down 0.6 %

Shares of INTU stock traded down $3.86 on Wednesday, reaching $614.86. The company had a trading volume of 1,714,754 shares, compared to its average volume of 1,442,353. The stock has a market cap of $171.89 billion, a PE ratio of 59.70, a PEG ratio of 2.85 and a beta of 1.27. The company has a 50-day moving average of $595.97 and a 200-day moving average of $622.76. 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 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit's dividend payout ratio is 38.81%.

Intuit 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.