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

UniSuper Management Pty Ltd increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 38.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,743 shares of the software maker’s stock after purchasing an additional 23,262 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Intuit were worth $52,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its position in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the period. Raymond James Financial Inc. acquired a new position in Intuit during the fourth quarter worth $300,854,000. Vanguard Group Inc. lifted its stake in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was 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 in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 132,896 shares of company stock valued at $82,946,716. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Scotiabank dropped their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Mizuho increased their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Down 0.6 %

NASDAQ INTU opened at $614.86 on Thursday. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a market capitalization of $171.89 billion, a price-to-earnings ratio of 59.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 firm’s fifty day moving average price is $595.84 and its 200 day moving average price is $622.71.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

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.