Stevens Capital Management LP Has $512,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Stevens Capital Management LP decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 50.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 814 shares of the software maker’s stock after selling 843 shares during the quarter. Stevens Capital Management LP’s holdings in Intuit were worth $512,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in INTU. Proficio Capital Partners LLC raised its stake in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Intuit in the 4th quarter valued at $300,854,000. Holocene Advisors LP raised its stake in shares of Intuit by 99.6% in the 3rd 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 raised its stake in shares of Intuit by 83.2% in the 4th 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 in the last quarter. Finally, Sustainable Growth Advisers LP raised its stake in shares of Intuit by 20.7% in the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock valued at $898,344,000 after buying an additional 245,372 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTU. Citigroup dropped their price objective 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. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Up 0.6 %

Shares of NASDAQ:INTU opened at $604.04 on Monday. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company has a 50 day moving average of $596.08 and a 200-day moving average of $622.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $168.87 billion, a price-to-earnings ratio of 58.64, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

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 dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,348 shares of company stock worth $73,515,245 in the last quarter. 2.68% of the stock is owned by company insiders.

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.