Parallel Advisors LLC Raises Position in Intuit Inc. (NASDAQ:INTU)

Parallel Advisors LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,803 shares of the software maker’s stock after acquiring an additional 2,429 shares during the period. Parallel Advisors LLC’s holdings in Intuit were worth $16,217,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC boosted its position in shares of 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 buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit in the 4th quarter worth about $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INTU. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 in the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

INTU opened at $598.80 on Monday. 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 market capitalization of $167.40 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27. The company has a fifty day moving average of $598.23 and a 200 day moving average of $623.66. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

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.