Sciencast Management LP Has $3.04 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sciencast Management LP raised its stake in Intuit Inc. (NASDAQ:INTU) by 83.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,842 shares of the software maker’s stock after buying an additional 2,197 shares during the period. Intuit makes up 0.8% of Sciencast Management LP’s investment portfolio, making the stock its 19th biggest position. Sciencast Management LP’s holdings in Intuit were worth $3,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit 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 transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,348 shares of company stock worth $73,515,245 in the last quarter. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $604.04 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $596.08 and a two-hundred day simple moving average of $622.81. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The firm has a market capitalization of $168.87 billion, a PE ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

Analyst Ratings Changes

Several brokerages have commented on INTU. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Jefferies Financial Group increased 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. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.