Intuit Inc. (NASDAQ:INTU) Shares Purchased by Conning Inc.

Conning Inc. boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,544 shares of the software maker’s stock after acquiring an additional 185 shares during the quarter. Conning Inc.’s holdings in Intuit were worth $5,998,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $211,000. Global X Japan Co. Ltd. increased its position in Intuit by 8.5% in the 4th quarter. Global X Japan Co. Ltd. now owns 34,945 shares of the software maker’s stock valued at $21,963,000 after acquiring an additional 2,749 shares during the period. William Allan Corp increased its position in Intuit by 3.1% in the 4th quarter. William Allan Corp now owns 4,306 shares of the software maker’s stock valued at $2,706,000 after acquiring an additional 129 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Intuit by 3.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,706 shares of the software maker’s stock valued at $32,497,000 after acquiring an additional 1,880 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the 4th quarter valued at approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Finally, Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of Intuit stock opened at $578.85 on Friday. The stock has a market cap of $162.03 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.25. The business has a fifty day simple moving average of $627.45 and a 200-day simple moving average of $632.08. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s payout ratio is 40.39%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

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.