Sei Investments Co. Has $209.15 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Sei Investments Co. lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 334,105 shares of the software maker’s stock after selling 447 shares during the quarter. Intuit comprises about 2.0% of Sei Investments Co.’s investment portfolio, making the stock its 8th largest position. Sei Investments Co. owned 0.12% of Intuit worth $209,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Copia Wealth Management acquired a new stake in Intuit during the 4th quarter worth $25,000. Heck Capital Advisors LLC bought a new stake in Intuit in the fourth quarter valued at approximately $28,000. Olde Wealth Management LLC bought a new stake in Intuit in the first quarter valued at approximately $37,000. Atlantic Edge Private Wealth Management LLC increased its stake in Intuit by 523.1% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock valued at $50,000 after purchasing an additional 68 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in Intuit during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on INTU. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Barclays reiterated an “overweight” rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group lifted their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a report on Monday, May 19th. 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. Finally, Susquehanna reiterated a “positive” rating on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $806.27.

Intuit Stock Down 0.2%

Shares of INTU opened at $711.71 on Thursday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The firm’s 50 day moving average is $765.97 and its 200-day moving average is $669.47. The stock has a market capitalization of $198.53 billion, a PE ratio of 57.77, a P/E/G ratio of 2.75 and a beta of 1.28. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.88 earnings per share. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were given a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.6%. Intuit’s dividend payout ratio (DPR) is currently 33.77%.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares of the company’s stock, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by corporate insiders.

About Intuit

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.