Katamaran Capital LLP Makes New $3.12 Million Investment in Intuit Inc. (NASDAQ:INTU)

Katamaran Capital LLP bought a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,963 shares of the software maker’s stock, valued at approximately $3,119,000. Intuit makes up 4.0% of Katamaran Capital LLP’s investment portfolio, making the stock its 12th biggest position.

Several other large investors have also modified their holdings of the stock. R Squared Ltd bought a new position in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised 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 valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the fourth quarter worth $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit during the fourth quarter valued at $28,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. The trade was a 15.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock worth $18,767,673 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on INTU. Piper Sandler restated an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup lowered their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Scotiabank lowered their price objective on 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $718.00.

Intuit Trading Down 6.2 %

Shares of INTU stock opened at $561.53 on Friday. The stock has a 50-day simple moving average of $595.64 and a 200 day simple moving average of $620.96. The stock has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.74%. Intuit’s dividend payout ratio is currently 38.81%.

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.