Jensen Investment Management Inc. Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Jensen Investment Management Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 970,689 shares of the software maker’s stock after selling 12,601 shares during the period. Intuit comprises 5.5% of Jensen Investment Management Inc.’s holdings, making the stock its 7th largest holding. Jensen Investment Management Inc. owned approximately 0.35% of Intuit worth $610,078,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on INTU. Scotiabank cut their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $721.61.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on 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 directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,301 shares of company stock valued at $121,470,200. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $598.80 on Monday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The firm has a fifty day simple moving average of $598.23 and a 200 day simple moving average of $623.66. The company has a market capitalization of $167.40 billion, a PE ratio of 58.14, a P/E/G ratio of 2.85 and a beta of 1.27. 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 Dividend Announcement

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 $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

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.