Intuit Inc. (NASDAQ:INTU) Shares Sold by XXEC Inc.

XXEC Inc. cut its position in Intuit Inc. (NASDAQ:INTU) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,999 shares of the software maker’s stock after selling 1,007 shares during the period. Intuit comprises about 8.3% of XXEC Inc.’s portfolio, making the stock its 3rd largest position. XXEC Inc.’s holdings in Intuit were worth $10,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Crew Capital Management Ltd. increased its position in shares of Intuit by 14.2% during the fourth quarter. Crew Capital Management Ltd. now owns 2,027 shares of the software maker’s stock worth $1,274,000 after acquiring an additional 252 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Intuit by 27.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,342 shares of the software maker’s stock worth $1,477,000 after purchasing an additional 511 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Intuit by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,759,171 shares of the software maker’s stock worth $1,105,639,000 after purchasing an additional 70,726 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Intuit by 0.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,478 shares of the software maker’s stock valued at $9,728,000 after purchasing an additional 136 shares in the last quarter. Finally, Scratch Capital LLC bought a new position in shares of Intuit during the fourth quarter worth about $754,000. 83.66% of the stock is owned by institutional investors.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,460 shares of company stock valued at $144,750,747. 2.68% of the stock is owned by insiders.

Intuit Stock Performance

NASDAQ INTU opened at $598.07 on Wednesday. The stock has a market cap of $167.20 billion, a PE ratio of 58.07, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50-day moving average of $604.21 and a 200-day moving average of $626.30. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lifted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $720.50.

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.