Sienna Gestion Has $15.99 Million Position in Intuit Inc. (NASDAQ:INTU)

Sienna Gestion raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 25,444 shares of the software maker’s stock after acquiring an additional 2,137 shares during the period. Intuit makes up 1.1% of Sienna Gestion’s holdings, making the stock its 17th largest position. Sienna Gestion’s holdings in Intuit were worth $15,989,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,301 shares of company stock valued at $121,470,200. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on INTU shares. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Oppenheimer lifted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $581.32 on Friday. The firm has a 50 day moving average of $598.85 and a 200-day moving average of $623.76. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $162.51 billion, a PE ratio of 56.44, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

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.