ZEGA Investments LLC Purchases New Stake in Intuit Inc. (NASDAQ:INTU)

ZEGA Investments LLC acquired a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,525 shares of the software maker's stock, valued at approximately $912,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Proficio Capital Partners LLC increased its holdings in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Intuit during the fourth quarter worth about $300,854,000. Holocene Advisors LP increased its holdings in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock valued at $388,487,000 after buying an additional 312,212 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after acquiring an additional 268,060 shares during the period. Finally, Sustainable Growth Advisers LP boosted its stake in shares of Intuit by 20.7% during the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker's stock worth $898,344,000 after acquiring an additional 245,372 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $721.61.

Intuit Trading Down 0.6 %

Shares of NASDAQ:INTU traded down $3.86 during midday trading on Wednesday, reaching $614.86. The company's stock had a trading volume of 1,714,754 shares, compared to its average volume of 1,440,598. The firm has a market cap of $171.89 billion, a price-to-earnings ratio of 59.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50 day moving average price of $595.97 and a 200 day moving average price of $622.76. Intuit Inc. has a 1 year low of $553.24 and a 1 year 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.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares of the company's stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,896 shares of company stock worth $82,946,716 in the last three months. Company insiders own 2.68% of the company's stock.

Intuit 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.