Intuit Inc. (NASDAQ:INTU) Shares Acquired by Accelerate Investment Advisors LLC

Accelerate Investment Advisors LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 645 shares of the software maker’s stock after buying an additional 21 shares during the period. Accelerate Investment Advisors LLC’s holdings in Intuit were worth $405,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Nordea Investment Management AB boosted its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Harvest Portfolios Group Inc. raised its stake in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC raised its stake in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the period. Retireful LLC purchased a new position in Intuit during the third quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit during the third quarter worth approximately $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the sale, the chief financial officer now directly owns 644 shares in the company, valued at $403,414.48. This trade represents a 66.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 291,936 shares of company stock valued at $188,324,604. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 1.3 %

INTU stock traded down $8.02 during mid-day trading on Monday, hitting $615.41. 677,747 shares of the company were exchanged, compared to its average volume of 1,244,561. The company has a market capitalization of $172.26 billion, a PE ratio of 59.75, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The firm has a fifty day simple moving average of $649.58 and a 200 day simple moving average of $638.21.

Intuit (NASDAQ:INTU) last announced 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. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. On average, research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.