Sciencast Management LP Purchases 2,197 Shares of Intuit Inc. (NASDAQ:INTU)

Sciencast Management LP boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 83.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,842 shares of the software maker’s stock after acquiring an additional 2,197 shares during the period. Intuit makes up approximately 0.8% of Sciencast Management LP’s investment portfolio, making the stock its 19th largest holding. Sciencast Management LP’s holdings in Intuit were worth $3,043,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its holdings in shares of Intuit by 2.7% during the third quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock worth $9,149,000 after acquiring an additional 388 shares during the period. Prospera Financial Services Inc increased its stake in Intuit by 1.8% in the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock valued at $626,000 after buying an additional 18 shares during the last quarter. Moors & Cabot Inc. lifted its position in Intuit by 6.1% during the 3rd quarter. Moors & Cabot Inc. now owns 657 shares of the software maker’s stock worth $408,000 after buying an additional 38 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Intuit by 6.5% during the 3rd quarter. LPL Financial LLC now owns 195,175 shares of the software maker’s stock worth $121,203,000 after buying an additional 11,927 shares during the last quarter. Finally, Integrated Investment Consultants LLC grew its holdings in shares of Intuit by 15.5% in the 3rd quarter. Integrated Investment Consultants LLC now owns 1,066 shares of the software maker’s stock valued at $662,000 after acquiring an additional 143 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Intuit stock opened at $604.04 on Friday. The stock’s fifty day moving average price is $596.08 and its two-hundred day moving average price is $622.81. The firm has a market cap of $168.87 billion, a PE ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Announces Dividend

The business 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 $1.04 dividend. 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 dividend payout ratio (DPR) is presently 38.81%.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,348 shares of company stock worth $73,515,245 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted 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. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $721.61.

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.