Sycomore Asset Management Sells 3,732 Shares of Intuit Inc. (NASDAQ:INTU)

Sycomore Asset Management decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,456 shares of the software maker’s stock after selling 3,732 shares during the period. Intuit makes up about 2.2% of Sycomore Asset Management’s portfolio, making the stock its 11th largest position. Sycomore Asset Management’s holdings in Intuit were worth $10,353,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of INTU. NewSquare Capital LLC purchased a new stake in shares of Intuit in the third quarter valued at about $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intuit in the third quarter valued at about $26,000. MCF Advisors LLC raised its holdings in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Steward Financial Group LLC raised its holdings in shares of Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after purchasing an additional 20 shares during the last quarter. Finally, Aspire Private Capital LLC raised its holdings in shares of Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU stock traded up $4.61 during trading hours on Wednesday, reaching $635.49. The stock had a trading volume of 1,376,556 shares, compared to its average volume of 1,250,610. The stock’s fifty day simple moving average is $641.40 and its 200 day simple moving average is $601.86. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm has a market capitalization of $177.94 billion, a PE ratio of 64.85, a PEG ratio of 3.71 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the business earned $1.05 earnings per share. Intuit’s revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s payout ratio is presently 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 over the last three months. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INTU shares. Wells Fargo & Company raised their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday. Mizuho raised their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Evercore ISI raised their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $645.00.

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.