Katamaran Capital LLP Takes Position in Intuit Inc. (NASDAQ:INTU)

Katamaran Capital LLP purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,963 shares of the software maker’s stock, valued at approximately $3,119,000. Intuit accounts for approximately 4.0% of Katamaran Capital LLP’s investment portfolio, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after buying an additional 353,185 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after acquiring an additional 132,384 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 purchasing an additional 620,559 shares during the last quarter. Norges Bank purchased a new position in Intuit in the fourth quarter valued at about $2,290,419,000. Finally, Bank of New York Mellon Corp increased its position in Intuit by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Down 6.2 %

Shares of INTU stock opened at $561.53 on Friday. The stock has a 50 day simple moving average of $595.64 and a 200 day simple moving average of $620.96. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $156.98 billion, a P/E ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.74%. Intuit’s dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the 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 transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,862 shares of company stock worth $18,767,673 over the last three months. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INTU. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Scotiabank decreased their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets reduced their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $718.00.

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.