Sit Investment Associates Inc. Sells 1,095 Shares of Intuit Inc. (NASDAQ:INTU)

Sit Investment Associates Inc. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 24,492 shares of the software maker’s stock after selling 1,095 shares during the period. Sit Investment Associates Inc.’s holdings in Intuit were worth $15,393,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Quantbot Technologies LP lifted its position in Intuit by 1,027.3% in the third quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock worth $77,000 after purchasing an additional 113 shares during the period. IHT Wealth Management LLC raised its position in Intuit by 20.9% in the third quarter. IHT Wealth Management LLC now owns 2,036 shares of the software maker’s stock worth $1,259,000 after purchasing an additional 352 shares in the last quarter. Quarry LP lifted its stake in Intuit by 3,171.4% during the third quarter. Quarry LP now owns 458 shares of the software maker’s stock worth $284,000 after purchasing an additional 444 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its stake in Intuit by 2.9% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,350 shares of the software maker’s stock worth $8,290,000 after purchasing an additional 381 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in Intuit by 42.3% during the third quarter. Two Sigma Advisers LP now owns 181,800 shares of the software maker’s stock valued at $112,898,000 after purchasing an additional 54,000 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $561.53 on Friday. The stock has a market cap of $156.98 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock has a 50-day moving average of $595.64 and a 200-day moving average of $620.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.74%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,862 shares of company stock valued at $18,767,673 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on INTU. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Citigroup reduced their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Mizuho increased their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $718.00.

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.