Intuit Inc. (NASDAQ:INTU) Position Increased by Brasada Capital Management LP

Brasada Capital Management LP lifted its position in Intuit Inc. (NASDAQ:INTU) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,511 shares of the software maker’s stock after acquiring an additional 261 shares during the period. Brasada Capital Management LP’s holdings in Intuit were worth $3,379,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Geode Capital Management LLC grew its stake in Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after acquiring an additional 132,384 shares in the last quarter. Wellington Management Group LLP grew its stake in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth approximately $2,290,419,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after purchasing an additional 88,487 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 2.6 %

Shares of INTU stock opened at $583.56 on Wednesday. The firm’s fifty day simple moving average is $591.87 and its 200 day simple moving average is $616.12. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. 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 firm has a market capitalization of $163.14 billion, a P/E ratio of 56.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Insider Activity

In other news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the firm’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 value of $1,021,200.00. Following the transaction, the director now owns 8 shares of the company’s stock, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. Morgan Stanley dropped their price target on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, 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 research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $718.56.

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.