Intuit Inc. (NASDAQ:INTU) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its position in Intuit Inc. (NASDAQ:INTU) by 38.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 83,743 shares of the software maker’s stock after buying an additional 23,262 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Intuit were worth $52,632,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,896 shares of company stock valued at $82,946,716 over the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INTU. Scotiabank decreased their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets dropped their price target on 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 issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

Shares of INTU opened at $614.86 on Thursday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company’s 50 day simple moving average is $595.84 and its 200 day simple moving average is $622.71. The company has a market capitalization of $171.89 billion, a price-to-earnings ratio of 59.70, a PEG ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

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.