Intuit Inc. (NASDAQ:INTU) is Wedge Capital Management L L P NC’s 4th Largest Position

Wedge Capital Management L L P NC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 128,893 shares of the software maker’s stock after selling 10,641 shares during the period. Intuit comprises about 1.4% of Wedge Capital Management L L P NC’s holdings, making the stock its 4th biggest position. Wedge Capital Management L L P NC’s holdings in Intuit were worth $80,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of INTU. MCF Advisors LLC increased its stake in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. NewSquare Capital LLC bought a new position in Intuit during the third quarter valued at $25,000. Cape Investment Advisory Inc. purchased a new stake in Intuit in the third quarter worth $26,000. Steward Financial Group LLC raised its stake in shares of Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after buying an additional 20 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the 4th quarter valued at $38,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last three months. 2.90% of the stock is owned by company insiders.

Intuit Trading Up 0.8 %

NASDAQ:INTU traded up $4.60 during trading hours on Monday, reaching $609.77. The company’s stock had a trading volume of 1,056,766 shares, compared to its average volume of 1,246,259. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $170.74 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 3.68 and a beta of 1.21. The firm has a 50-day simple moving average of $642.93 and a 200-day simple moving average of $600.28. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the company posted $1.05 EPS. Intuit’s revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INTU shares. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Susquehanna increased their price objective on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Evercore ISI lifted their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, Oppenheimer boosted their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

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.