Victory Capital Management Inc. Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Victory Capital Management Inc. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274,767 shares of the software maker’s stock after selling 20,283 shares during the period. Victory Capital Management Inc. owned about 0.10% of Intuit worth $172,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of INTU. R Squared Ltd purchased a new position in shares of Intuit during the 4th quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit during the 3rd quarter valued at about $32,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 224,460 shares of company stock valued at $144,750,747 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $598.07 on Wednesday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The stock has a market capitalization of $167.20 billion, a P/E ratio of 58.07, a PEG ratio of 2.85 and a beta of 1.24. The firm has a fifty day simple moving average of $604.21 and a two-hundred day simple moving average of $626.30. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. Intuit’s payout ratio is currently 38.81%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on INTU shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Finally, Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $720.50.

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.