Sycomore Asset Management Acquires 4,687 Shares of Intuit Inc. (NASDAQ:INTU)

Sycomore Asset Management raised its holdings in Intuit Inc. (NASDAQ:INTU) by 38.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,846 shares of the software maker’s stock after purchasing an additional 4,687 shares during the period. Intuit makes up about 1.4% of Sycomore Asset Management’s portfolio, making the stock its 24th largest holding. Sycomore Asset Management’s holdings in Intuit were worth $10,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Intuit by 1.8% in 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 buying an additional 221,885 shares during the period. Geode Capital Management LLC lifted its position in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after acquiring an additional 80,463 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after purchasing an additional 26,914 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Trading Down 1.9 %

NASDAQ INTU opened at $578.85 on Monday. Intuit Inc. has a 12 month low of $557.29 and a 12 month 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 firm has a market capitalization of $162.03 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. The business’s 50-day moving average price is $626.20 and its two-hundred day moving average price is $631.58.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s payout ratio is currently 40.39%.

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.