Intuit Inc. (NASDAQ:INTU) is NS Partners Ltd’s 7th Largest Position

NS Partners Ltd cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,140 shares of the software maker’s stock after selling 1,123 shares during the period. Intuit makes up 2.6% of NS Partners Ltd’s portfolio, making the stock its 7th largest holding. NS Partners Ltd’s holdings in Intuit were worth $62,938,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its position in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the period. Raymond James Financial Inc. purchased a new stake in Intuit in the 4th quarter valued at about $300,854,000. Holocene Advisors LP boosted its position in Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB boosted its position in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the period. Finally, State Street Corp boosted its position in Intuit by 1.8% in the 3rd 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. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INTU. Scotiabank lowered their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company 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 assigned a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Trading Up 0.5 %

Shares of Intuit stock opened at $609.61 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The firm has a market capitalization of $170.42 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.85 and a beta of 1.27. The firm’s 50 day simple moving average is $602.28 and its two-hundred day simple moving average is $625.73.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s payout ratio is 38.81%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. This represents a 18.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,811 shares of company stock worth $142,391,012. 2.68% of the stock is owned by corporate insiders.

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.