Victory Capital Management Inc. Has $172.69 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Victory Capital Management Inc. trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 274,767 shares of the software maker's stock after selling 20,283 shares during the period. Victory Capital Management Inc. owned 0.10% of Intuit worth $172,691,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of INTU. R Squared Ltd acquired a new position in shares of Intuit in the 4th quarter valued at $25,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the 4th quarter worth about $29,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit during the 3rd quarter worth about $32,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price on the stock in a report on Wednesday, February 26th. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $640.00 to $660.00 in a report on Wednesday. Finally, BMO Capital Markets decreased 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 issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $721.61.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 224,460 shares of company stock valued at $144,750,747 in the last three months. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Performance

NASDAQ:INTU traded up $19.44 during mid-day trading on Wednesday, hitting $617.51. 1,614,913 shares of the company traded hands, compared to its average volume of 1,910,791. The stock's fifty day moving average price is $603.65 and its 200-day moving average price is $626.24. 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 firm has a market cap of $172.63 billion, a price-to-earnings ratio of 59.95, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit's payout ratio is currently 38.81%.

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.