Comgest Global Investors S.A.S. Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Comgest Global Investors S.A.S. reduced its position in Intuit Inc. (NASDAQ:INTU) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,503 shares of the software maker’s stock after selling 101,138 shares during the quarter. Intuit makes up about 4.6% of Comgest Global Investors S.A.S.’s investment portfolio, making the stock its 9th largest holding. Comgest Global Investors S.A.S. owned approximately 0.16% of Intuit worth $281,884,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in Intuit during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter worth $28,000. Finally, Summit Securities Group LLC bought a new position in shares of Intuit during the 4th quarter valued at about $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INTU. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Scotiabank reduced their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $713.56.

Intuit Price Performance

NASDAQ INTU opened at $587.04 on Monday. The stock’s fifty day moving average price is $591.70 and its 200 day moving average price is $617.42. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $164.11 billion, a price-to-earnings ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business’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 completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last 90 days. Insiders own 2.68% of the company’s stock.

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.