Intuit Inc. (NASDAQ:INTU) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 38.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 334,552 shares of the software maker’s stock after selling 211,860 shares during the quarter. Sei Investments Co.’s holdings in Intuit were worth $210,274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its holdings in shares of Intuit by 112,233.1% in 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 last quarter. Raymond James Financial Inc. bought a new stake in shares of Intuit in the 4th quarter worth approximately $300,854,000. Holocene Advisors LP increased its position in Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB increased its position in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the period. Finally, Sustainable Growth Advisers LP increased its position in Intuit by 20.7% in the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock valued at $898,344,000 after acquiring an additional 245,372 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several analyst reports. Scotiabank lowered their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Oppenheimer raised their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Transactions 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 stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 109 shares of Intuit 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 sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,348 shares of company stock valued at $73,515,245 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $604.04 on Friday. The stock has a market cap of $168.87 billion, a PE ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a fifty day simple moving average of $596.08 and a 200-day simple moving average of $622.81. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

The firm 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 $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 dividend payout ratio (DPR) is presently 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.