NorthCrest Asset Manangement LLC Has $43.08 Million Position in Intuit Inc. (NASDAQ:INTU)

NorthCrest Asset Manangement LLC lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 69,376 shares of the software maker’s stock after selling 24 shares during the quarter. Intuit accounts for approximately 1.3% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 11th largest holding. NorthCrest Asset Manangement LLC’s holdings in Intuit were worth $43,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Intuit by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,600 shares of the software maker’s stock valued at $18,382,000 after acquiring an additional 293 shares in the last quarter. ORG Partners LLC grew its stake in shares of Intuit by 61.2% during the fourth quarter. ORG Partners LLC now owns 224 shares of the software maker’s stock valued at $141,000 after purchasing an additional 85 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of Intuit by 4.8% in the fourth quarter. First Hawaiian Bank now owns 7,645 shares of the software maker’s stock valued at $4,805,000 after purchasing an additional 347 shares in the last quarter. Douglas Lane & Associates LLC raised its position in Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after purchasing an additional 12,916 shares during the last quarter. Finally, Fulton Bank N.A. lifted its holdings in Intuit by 19.7% during the 4th quarter. Fulton Bank N.A. now owns 2,233 shares of the software maker’s stock worth $1,403,000 after buying an additional 367 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity 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 sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,636 shares of company stock valued at $187,510,258. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Up 0.5 %

Shares of Intuit stock traded up $3.24 during trading hours on Friday, hitting $628.25. The company’s stock had a trading volume of 672,879 shares, compared to its average volume of 1,051,493. The company has a market capitalization of $175.86 billion, a PE ratio of 61.00, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day moving average of $649.55 and a 200 day moving average of $638.16. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. Analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INTU. Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.