Sterling Capital Management LLC Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sterling Capital Management LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,628 shares of the software maker's stock after selling 3,398 shares during the period. Sterling Capital Management LLC's holdings in Intuit were worth $25,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Monetary Management Group Inc. increased its holdings in Intuit by 1.1% in the 4th quarter. Monetary Management Group Inc. now owns 1,900 shares of the software maker's stock valued at $1,194,000 after acquiring an additional 20 shares during the last quarter. Heritage Trust Co bought a new stake in shares of Intuit in the fourth quarter worth about $400,000. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Intuit by 2.3% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,656 shares of the software maker's stock worth $8,583,000 after buying an additional 306 shares in the last quarter. First Foundation Advisors lifted its position in shares of Intuit by 7.8% in the fourth quarter. First Foundation Advisors now owns 8,385 shares of the software maker's stock worth $5,270,000 after buying an additional 609 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Intuit by 1.1% during the fourth quarter. Treasurer of the State of North Carolina now owns 140,693 shares of the software maker's stock valued at $88,426,000 after buying an additional 1,514 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

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Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's 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 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 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. Insiders own 2.68% of the company's stock.

Intuit Trading Up 0.1 %

Shares of NASDAQ:INTU traded up $0.53 during trading on Tuesday, reaching $594.08. 1,159,086 shares of the company were exchanged, compared to its average volume of 1,918,786. The business's fifty day simple moving average is $591.81 and its 200-day simple moving average is $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 Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The firm has a market capitalization of $166.08 billion, a PE ratio of 57.68, a P/E/G ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

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 paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is 38.81%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. Oppenheimer lowered their price objective on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday. Piper Sandler restated an "overweight" rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus price target of $713.56.

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.