Intuit Inc. (NASDAQ:INTU) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,981 shares of the software maker's stock after acquiring an additional 8,441 shares during the quarter. Intuit makes up approximately 1.1% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 18th largest position. Wedge Capital Management L L P NC's holdings in Intuit were worth $63,467,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Relyea Zuckerberg Hanson LLC lifted its holdings in Intuit by 9.4% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 709 shares of the software maker's stock valued at $446,000 after acquiring an additional 61 shares during the period. Avanza Fonder AB acquired a new position in Intuit in the fourth quarter valued at approximately $230,000. Cvfg LLC acquired a new position in Intuit in the fourth quarter valued at approximately $1,219,000. Bouvel Investment Partners LLC lifted its holdings in Intuit by 0.7% in the fourth quarter. Bouvel Investment Partners LLC now owns 9,746 shares of the software maker's stock valued at $6,125,000 after acquiring an additional 63 shares during the period. Finally, Cohen Investment Advisors LLC lifted its holdings in Intuit by 1.4% in the fourth quarter. Cohen Investment Advisors LLC now owns 5,869 shares of the software maker's stock valued at $3,689,000 after acquiring an additional 79 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Down 0.5 %

Shares of Intuit stock traded down $3.14 during mid-day trading on Friday, hitting $604.13. The stock had a trading volume of 2,830,783 shares, compared to its average volume of 1,248,995. The firm has a 50-day moving average of $646.09 and a two-hundred day moving average of $637.06. The firm has a market cap of $169.11 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit's dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $726.53.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last three months. Insiders own 2.68% of the company's stock.

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.