BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 7,028 Shares of Intuit Inc. (NASDAQ:INTU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,772 shares of the software maker’s stock after purchasing an additional 7,028 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Intuit were worth $83,447,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in INTU. Norges Bank purchased a new position in Intuit during the fourth quarter valued at $2,290,419,000. Proficio Capital Partners LLC grew its stake in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after purchasing an additional 771,232 shares during the period. Wellington Management Group LLP raised its stake in shares of Intuit by 13.3% during the fourth 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. Finally, Unisphere Establishment lifted its stake in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock worth $942,750,000 after acquiring an additional 500,000 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.0%

NASDAQ:INTU opened at $671.16 on Wednesday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The stock has a market cap of $187.63 billion, a P/E ratio of 65.16, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day simple moving average of $611.83 and a 200-day simple moving average of $619.91.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. Intuit’s payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group cut their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.06.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 in the last 90 days. 2.68% of the stock is owned by insiders.

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.