Intuit Inc. (NASDAQ:INTU) is Ninety One North America Inc.’s 4th Largest Position

Ninety One North America Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 31.6% during the 4th quarter, Holdings Channel reports. The firm owned 141,631 shares of the software maker’s stock after selling 65,531 shares during the period. Intuit makes up about 4.3% of Ninety One North America Inc.’s holdings, making the stock its 4th biggest position. Ninety One North America Inc.’s holdings in Intuit were worth $88,524,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in INTU. NewSquare Capital LLC acquired a new stake in Intuit in the third quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new position in Intuit in the 3rd quarter valued at $26,000. Steward Financial Group LLC lifted its holdings in Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after acquiring an additional 20 shares during the period. Webster Bank N. A. acquired a new stake in Intuit in the fourth quarter valued at $41,000. Finally, Aspire Private Capital LLC lifted its holdings in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INTU. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. KeyCorp lifted their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Barclays lifted their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus lifted their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Down 0.6 %

NASDAQ INTU traded down $3.95 on Thursday, reaching $609.26. The company had a trading volume of 256,673 shares, compared to its average volume of 1,236,635. The firm has a market capitalization of $170.59 billion, a PE ratio of 62.54, a P/E/G ratio of 3.72 and a beta of 1.21. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The firm has a 50-day moving average of $644.88 and a 200-day moving average of $598.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $1.05 EPS. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

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.