Mesirow Financial Investment Management Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 93.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,874 shares of the software maker's stock after purchasing an additional 1,391 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Intuit were worth $1,808,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the 4th 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. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $29,000. Institutional investors own 83.66% of the company's stock.
Insider Buying and Selling
In other news, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company's stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 363 shares of Intuit stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $11,941.50. The trade was a 95.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,811 shares of company stock worth $142,391,012 in the last ninety days. 2.68% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research analysts recently weighed in on INTU shares. Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $721.61.
Read Our Latest Report on INTU
Intuit Price Performance
Shares of INTU stock traded down $33.61 on Monday, hitting $576.00. 1,361,808 shares of the company's stock were exchanged, compared to its average volume of 1,887,680. 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 Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The stock has a market cap of $161.03 billion, a P/E ratio of 56.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a 50 day moving average of $602.28 and a 200 day moving average of $625.12.
Intuit Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 annualized dividend and a dividend yield of 0.72%. Intuit's dividend payout ratio is currently 38.81%.
About Intuit
(
Free Report)
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.
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