Peapack Gladstone Financial Corp Increases Stake in Intuit Inc. (NASDAQ:INTU)

Peapack Gladstone Financial Corp increased its holdings in Intuit Inc. (NASDAQ:INTU) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,849 shares of the software maker’s stock after purchasing an additional 23 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Intuit were worth $11,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Himension Capital Singapore PTE. LTD. bought a new stake in shares of Intuit in the 4th quarter valued at about $1,026,000. Ilmarinen Mutual Pension Insurance Co increased its stake in Intuit by 43.2% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 61,324 shares of the software maker’s stock worth $38,542,000 after purchasing an additional 18,500 shares during the period. Nutshell Asset Management Ltd bought a new stake in Intuit in the fourth quarter valued at approximately $1,540,000. Russell Investments Group Ltd. boosted its stake in shares of Intuit by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 350,944 shares of the software maker’s stock valued at $220,658,000 after purchasing an additional 17,367 shares during the period. Finally, Perennial Investment Advisors LLC grew its holdings in shares of Intuit by 9.1% in the fourth quarter. Perennial Investment Advisors LLC now owns 612 shares of the software maker’s stock worth $385,000 after purchasing an additional 51 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,862 shares of company stock valued at $18,767,673. 2.68% of the stock is owned by insiders.

Intuit Stock Down 6.2 %

Shares of NASDAQ:INTU opened at $561.53 on Monday. Intuit Inc. has a 12-month low of $533.55 and a 12-month high of $714.78. The stock has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a PEG ratio of 2.85 and a beta of 1.25. The stock has a fifty day simple moving average of $595.64 and a two-hundred day simple moving average of $620.70. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Analysts Set New Price Targets

A number of research firms recently commented on INTU. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. 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. Citigroup reduced their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $718.00.

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.