Vinva Investment Management Ltd Sells 2,305 Shares of Intuit Inc. (NASDAQ:INTU)

Vinva Investment Management Ltd lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 19.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,436 shares of the software maker’s stock after selling 2,305 shares during the period. Vinva Investment Management Ltd’s holdings in Intuit were worth $5,948,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brown Financial Advisors boosted its stake in shares of Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC boosted its stake in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares during the period. True North Advisors LLC boosted its stake in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after acquiring an additional 17 shares during the period. Great Diamond Partners LLC boosted its stake in shares of Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in shares of Intuit by 1.8% in the third quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock worth $626,000 after acquiring an additional 18 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,646 shares of company stock worth $72,494,045. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. 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, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Trading Down 0.5 %

Shares of INTU stock opened at $599.03 on Wednesday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50 day simple moving average is $597.44 and its two-hundred day simple moving average is $623.29. The company has a market cap of $167.47 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio 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.