Sycomore Asset Management Has $7.74 Million Position in Intuit Inc. (NASDAQ:INTU)

Sycomore Asset Management trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 61.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,159 shares of the software maker’s stock after selling 19,394 shares during the period. Intuit makes up about 1.1% of Sycomore Asset Management’s investment portfolio, making the stock its 29th biggest position. Sycomore Asset Management’s holdings in Intuit were worth $7,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of INTU. Koshinski Asset Management Inc. lifted its stake in shares of Intuit by 33.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,094 shares of the software maker’s stock worth $711,000 after buying an additional 277 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Intuit by 6.5% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,222 shares of the software maker’s stock worth $795,000 after purchasing an additional 75 shares during the period. Leo Wealth LLC lifted its position in shares of Intuit by 9.1% during the 1st quarter. Leo Wealth LLC now owns 349 shares of the software maker’s stock valued at $227,000 after acquiring an additional 29 shares during the period. Trillium Asset Management LLC increased its stake in Intuit by 58.3% during the 1st quarter. Trillium Asset Management LLC now owns 1,445 shares of the software maker’s stock valued at $939,000 after purchasing an additional 532 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in Intuit by 30.8% during the 1st quarter. Brighton Jones LLC now owns 3,606 shares of the software maker’s stock valued at $2,344,000 after purchasing an additional 849 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $3.57 on Thursday, reaching $702.68. 537,898 shares of the company’s stock were exchanged, compared to its average volume of 1,328,062. The company has a fifty day moving average of $630.03 and a 200-day moving average of $629.21. Intuit Inc. has a twelve month low of $552.68 and a twelve month high of $714.78. The company has a market capitalization of $196.95 billion, a price-to-earnings ratio of 67.20, a PEG ratio of 3.42 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. On average, research analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.59%. Intuit’s payout ratio is currently 39.81%.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Jefferies Financial Group increased their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Barclays cut their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

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.