Cidel Asset Management Inc. Acquires 34 Shares of Intuit Inc. (NASDAQ:INTU)

Cidel Asset Management Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390 shares of the software maker’s stock after acquiring an additional 34 shares during the quarter. Cidel Asset Management Inc.’s holdings in Intuit were worth $245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Intuit during the 4th quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in Intuit during the third quarter valued at $27,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter worth about $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of Intuit stock opened at $578.85 on Friday. The firm has a market cap of $162.03 billion, a PE ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $626.20 and a 200 day moving average price of $631.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.72%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INTU shares. JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Stifel Nicolaus dropped their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock 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 report on Wednesday, January 15th. Finally, Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $726.53.

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.