Sierra Ocean LLC Purchases Shares of 189 Intuit Inc. (NASDAQ:INTU)

Sierra Ocean LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 189 shares of the software maker’s stock, valued at approximately $119,000.

Several other institutional investors also recently modified their holdings of INTU. Creative Planning increased its holdings in Intuit by 5.6% in the 3rd quarter. Creative Planning now owns 53,552 shares of the software maker’s stock valued at $33,256,000 after buying an additional 2,836 shares during the period. Good Life Advisors LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at about $367,000. Global Retirement Partners LLC increased its stake in Intuit by 3.3% in the third quarter. Global Retirement Partners LLC now owns 1,800 shares of the software maker’s stock valued at $1,118,000 after acquiring an additional 57 shares during the period. Stratos Wealth Partners LTD. raised its position in Intuit by 3.5% in the third quarter. Stratos Wealth Partners LTD. now owns 8,977 shares of the software maker’s stock worth $5,575,000 after purchasing an additional 305 shares in the last quarter. Finally, Stratos Investment Management LLC lifted its stake in Intuit by 8.8% during the third quarter. Stratos Investment Management LLC now owns 371 shares of the software maker’s stock worth $231,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Morgan Stanley increased their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. 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 report on Wednesday, January 15th. Finally, Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Trading Up 0.6 %

INTU stock opened at $587.38 on Monday. 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 twelve month low of $557.29 and a twelve month high of $714.78. The company has a market cap of $164.42 billion, a P/E ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24. The business has a fifty day moving average of $620.21 and a 200-day moving average of $629.97.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm 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%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. As a group, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. 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 0.71%. Intuit’s payout ratio is presently 40.39%.

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.