400 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Sovran Advisors LLC

Sovran Advisors LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 400 shares of the software maker’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Paladin Wealth LLC boosted its position in shares of Intuit by 13.7% during the fourth quarter. Paladin Wealth LLC now owns 997 shares of the software maker’s stock worth $627,000 after purchasing an additional 120 shares in the last quarter. Principle Wealth Partners LLC lifted its holdings in Intuit by 9.8% during the fourth quarter. Principle Wealth Partners LLC now owns 1,328 shares of the software maker’s stock worth $835,000 after acquiring an additional 118 shares in the last quarter. Arlington Trust Co LLC grew its stake in Intuit by 3.4% in the fourth quarter. Arlington Trust Co LLC now owns 2,094 shares of the software maker’s stock valued at $1,316,000 after acquiring an additional 68 shares during the period. Aubrey Capital Management Ltd increased its holdings in shares of Intuit by 2.5% in the fourth quarter. Aubrey Capital Management Ltd now owns 8,300 shares of the software maker’s stock worth $5,217,000 after acquiring an additional 200 shares in the last quarter. Finally, Sycomore Asset Management raised its position in shares of Intuit by 38.5% during the fourth quarter. Sycomore Asset Management now owns 16,846 shares of the software maker’s stock worth $10,728,000 after purchasing an additional 4,687 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $583.90 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 company’s fifty day simple moving average is $622.69 and its 200 day simple moving average is $630.67. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market cap of $163.45 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 2.91 and a beta of 1.24.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s payout ratio is 40.39%.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. One 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. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.