Flputnam Investment Management Co. Has $8.80 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Flputnam Investment Management Co. cut its holdings in Intuit Inc. (NASDAQ:INTU) by 6.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,994 shares of the software maker’s stock after selling 986 shares during the period. Flputnam Investment Management Co.’s holdings in Intuit were worth $8,795,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Proficio Capital Partners LLC grew its position in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Holocene Advisors LP raised its position in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares in the last quarter. Nordea Investment Management AB boosted its stake 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 buying an additional 268,060 shares during the period. State Street Corp grew its position in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Intuit during the 4th quarter worth $104,278,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Intuit stock opened at $613.84 on Friday. The stock has a 50-day moving average price of $605.90 and a two-hundred day moving average price of $627.12. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a market capitalization of $171.82 billion, a PE ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Redburn Atlantic began coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus dropped their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $717.88.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was 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 directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 in the last ninety days. Company insiders own 2.68% of the company’s stock.

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.