Intuit Inc. (NASDAQ:INTU) is Holocene Advisors LP’s 4th Largest Position

Holocene Advisors LP increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 99.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,583 shares of the software maker’s stock after acquiring an additional 312,212 shares during the period. Intuit comprises approximately 1.6% of Holocene Advisors LP’s portfolio, making the stock its 4th biggest holding. Holocene Advisors LP owned about 0.22% of Intuit worth $388,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new position in Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTU. Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. BMO Capital Markets boosted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This represents a 89.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,265 shares of company stock worth $83,336,625. Insiders own 2.90% of the company’s stock.

Intuit Stock Up 0.1 %

Shares of Intuit stock opened at $642.10 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market capitalization of $179.81 billion, a PE ratio of 62.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The company has a 50-day simple moving average of $634.10 and a two-hundred day simple moving average of $631.26.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the business posted $1.14 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio is 40.39%.

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.