Promus Capital LLC Invests $89,000 in Intuit Inc. (NASDAQ:INTU)

Promus Capital LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 141 shares of the software maker’s stock, valued at approximately $89,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Proficio Capital Partners LLC grew its stake in 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 acquiring an additional 1,062,847 shares in the last quarter. Holocene Advisors LP grew its stake in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Nordea Investment Management AB grew its stake in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. State Street Corp grew its stake in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Intuit during the fourth quarter valued at $104,278,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,811 shares of company stock worth $142,391,012 in the last 90 days. 2.68% of the stock is owned by corporate insiders.

Intuit Price Performance

Intuit stock opened at $617.51 on Thursday. The firm has a 50-day moving average price of $603.65 and a 200-day moving average price of $626.24. The firm has a market capitalization of $172.63 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is 38.81%.

Analysts Set New Price Targets

Several research firms recently weighed in on INTU. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.