Durable Capital Partners LP Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Durable Capital Partners LP reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 40.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 840,533 shares of the software maker’s stock after selling 568,624 shares during the quarter. Intuit accounts for about 4.3% of Durable Capital Partners LP’s investment portfolio, making the stock its 7th largest holding. Durable Capital Partners LP owned about 0.30% of Intuit worth $528,275,000 at the end of the most recent quarter.

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

Intuit Stock Performance

NASDAQ:INTU opened at $626.55 on Wednesday. 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 50 day simple moving average of $599.61 and a 200 day simple moving average of $616.66. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. The stock has a market cap of $175.16 billion, a P/E ratio of 60.83, a PEG ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s payout ratio is presently 38.81%.

Wall Street Analyst Weigh In

INTU has been the subject of several recent research reports. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a report on Wednesday, April 23rd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Finally, Jefferies Financial Group lowered their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $717.53.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company’s stock.

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.