Figure 8 Investment Strategies LLC Buys Shares of 810 Intuit Inc. (NASDAQ:INTU)

Figure 8 Investment Strategies LLC purchased a new position in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 810 shares of the software maker’s stock, valued at approximately $509,000.

A number of other large investors also recently modified their holdings of INTU. R Squared Ltd purchased a new stake in shares of Intuit in the fourth quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter worth about $27,000. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the 4th quarter valued at about $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $583.90 on Friday. The business has a 50-day simple moving average of $622.69 and a two-hundred day simple moving average of $630.67. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market cap of $163.45 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.