United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys Shares of 1,800 Intuit Inc. (NASDAQ:INTU)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,800 shares of the software maker’s stock, valued at approximately $1,131,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTU. Proficio Capital Partners LLC lifted its holdings in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Raymond James Financial Inc. bought a new position in shares of Intuit in the 4th quarter worth approximately $300,854,000. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Holocene Advisors LP grew its position in Intuit by 99.6% during the third 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. Finally, Nordea Investment Management AB increased its holdings in Intuit by 83.2% during the fourth 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 last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU stock opened at $618.72 on Wednesday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm has a market capitalization of $172.97 billion, a P/E ratio of 60.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a fifty day simple moving average of $595.97 and a two-hundred day simple moving average of $622.76. 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 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 given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is currently 38.81%.

Insider Activity

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction 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 transaction, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock valued at $82,946,716 in the last ninety days. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Citigroup reduced their target price 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. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Scotiabank reduced 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 note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $721.61.

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.