Intuit Inc. (NASDAQ:INTU) Shares Purchased by Candriam S.C.A.

Candriam S.C.A. raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,218 shares of the software maker’s stock after purchasing an additional 2,846 shares during the quarter. Candriam S.C.A.’s holdings in Intuit were worth $25,906,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of INTU. Proficio Capital Partners LLC grew its stake in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Intuit during the 4th quarter valued at approximately $300,854,000. Holocene Advisors LP grew its stake in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB grew its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Finally, State Street Corp lifted its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,811 shares of company stock valued at $142,391,012 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Scotiabank reduced their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Down 1.8 %

Shares of Intuit stock opened at $606.37 on Friday. The business’s fifty day moving average price is $602.86 and its two-hundred day moving average price is $626.10. 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 capitalization of $169.52 billion, a P/E ratio of 58.87, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

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.