South Dakota Investment Council Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

South Dakota Investment Council lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 18.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,300 shares of the software maker’s stock after selling 300 shares during the quarter. South Dakota Investment Council’s holdings in Intuit were worth $813,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Desjardins Global Asset Management Inc. boosted its stake in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after buying an additional 16 shares during the last quarter. GAM Holding AG grew its holdings in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares during the period. Janiczek Wealth Management LLC increased its position in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in Intuit by 0.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after purchasing an additional 18 shares during the period. Finally, Glenview Trust co boosted its holdings in shares of Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 1.4 %

Shares of Intuit stock opened at $626.39 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market cap of $175.39 billion, a P/E ratio of 63.92, a P/E/G ratio of 3.87 and a beta of 1.21. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The business has a 50-day moving average price of $640.64 and a 200 day moving average price of $602.03.

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 the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm 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 firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s payout ratio is currently 36.73%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Oppenheimer upped their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, KeyCorp raised their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Insider Activity

In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s 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 sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by insiders.

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.