Tran Capital Management L.P. Sells 2,585 Shares of Intuit Inc. (NASDAQ:INTU)

Tran Capital Management L.P. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,643 shares of the software maker’s stock after selling 2,585 shares during the period. Intuit makes up 3.3% of Tran Capital Management L.P.’s portfolio, making the stock its 13th biggest position. Tran Capital Management L.P.’s holdings in Intuit were worth $28,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. lifted its stake in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares in the last quarter. GAMMA Investing LLC boosted its position in Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares during the last quarter. Retireful LLC bought a new position in shares of Intuit during the 3rd quarter worth approximately $740,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $621,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on INTU. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the sale, the chief executive officer now owns 37,869 shares of the company’s stock, valued at approximately $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit Stock Down 0.1 %

Shares of INTU opened at $597.95 on Friday. The firm has a market cap of $167.38 billion, a P/E ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. 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 firm’s 50-day simple moving average is $636.69 and its 200 day simple moving average is $635.10.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

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.