Sciencast Management LP Buys 2,197 Shares of Intuit Inc. (NASDAQ:INTU)

Sciencast Management LP lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 83.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,842 shares of the software maker's stock after purchasing an additional 2,197 shares during the quarter. Intuit accounts for about 0.8% of Sciencast Management LP's holdings, making the stock its 19th largest position. Sciencast Management LP's holdings in Intuit were worth $3,043,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity

In other news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company's stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is currently owned by company insiders.

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Intuit Trading Down 0.6 %

Shares of INTU traded down $3.86 during trading hours on Wednesday, hitting $614.86. The company had a trading volume of 1,714,754 shares, compared to its average volume of 1,440,598. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average price is $595.97 and its 200 day moving average price is $622.76. The firm has a market cap of $171.89 billion, a P/E ratio of 59.70, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders 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 annualized dividend and a yield of 0.68%. Intuit's payout ratio is currently 38.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised 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 report on Wednesday, March 5th. Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, Morgan Stanley raised shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $721.61.

About Intuit

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.