Cullinan Associates Inc. Reduces Stake in Intuit Inc. (NASDAQ:INTU)

Cullinan Associates Inc. trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 41.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,770 shares of the software maker’s stock after selling 1,940 shares during the period. Cullinan Associates Inc.’s holdings in Intuit were worth $1,741,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. R Squared Ltd bought a new position in Intuit in the 4th quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Intuit during the third quarter valued at $27,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the fourth quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new position in Intuit during the fourth quarter valued at approximately $29,000. Finally, Denver PWM LLC purchased a new position in Intuit in the third quarter valued at about $32,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

INTU opened at $600.76 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $168.16 billion, a PE ratio of 58.33, a P/E/G ratio of 2.96 and a beta of 1.25. The company’s 50 day simple moving average is $630.95 and its 200 day simple moving average is $633.26. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company 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%. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Scotiabank began 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. Barclays reduced 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. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit 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.