Sycomore Asset Management Has $10.73 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sycomore Asset Management grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 38.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,846 shares of the software maker’s stock after buying an additional 4,687 shares during the quarter. Intuit accounts for about 1.4% of Sycomore Asset Management’s holdings, making the stock its 24th biggest position. Sycomore Asset Management’s holdings in Intuit were worth $10,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. R Squared Ltd bought a new position in Intuit during the 4th quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the third quarter valued at about $27,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the fourth quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit during the fourth quarter worth about $29,000. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Finally, Jefferies Financial Group boosted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Trading Down 1.9 %

Shares of INTU opened at $578.85 on Monday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a market cap of $162.03 billion, a PE ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $626.20 and its 200-day moving average price is $631.58.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last three months. 2.68% of the stock is owned by corporate insiders.

About Intuit

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.