Geneva Capital Management LLC Sells 4,277 Shares of Intuit Inc. (NASDAQ:INTU)

Geneva Capital Management LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,335 shares of the software maker’s stock after selling 4,277 shares during the period. Geneva Capital Management LLC’s holdings in Intuit were worth $22,208,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC boosted its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter worth about $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of INTU opened at $617.51 on Thursday. The company has a 50 day moving average price of $603.65 and a 200-day moving average price of $626.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock has a market capitalization of $172.63 billion, a PE ratio of 59.95, a PEG ratio of 2.85 and a beta of 1.24. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s payout ratio is presently 38.81%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,811 shares of company stock worth $142,391,012 in the last 90 days. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. Scotiabank dropped their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Citigroup dropped their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $640.00 to $660.00 in a research report on Wednesday. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.