Crestline Management LP Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Crestline Management LP lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 30.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,448 shares of the software maker’s stock after acquiring an additional 1,488 shares during the quarter. Crestline Management LP’s holdings in Intuit were worth $4,053,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Whalen Wealth Management Inc. bought a new stake in Intuit in the fourth quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after purchasing an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. lifted its position in shares of Intuit by 3.8% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after buying an additional 1,602 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after acquiring an additional 12,916 shares during the period. Finally, Graypoint LLC increased its holdings in Intuit by 65.8% in the 4th quarter. Graypoint LLC now owns 4,045 shares of the software maker’s stock worth $2,542,000 after acquiring an additional 1,606 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of Intuit stock opened at $626.55 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The company has a fifty day moving average of $599.61 and a 200-day moving average of $616.66. The stock has a market capitalization of $175.16 billion, a price-to-earnings ratio of 60.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analysts Set New Price Targets

A number of brokerages have weighed in on INTU. Morgan Stanley cut their target price on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Finally, Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $717.53.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company’s stock.

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.