Intuit Inc. (NASDAQ:INTU) Shares Purchased by Crestline Management LP

Crestline Management LP lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,448 shares of the software maker's stock after acquiring an additional 1,488 shares during the period. Crestline Management LP's holdings in Intuit were worth $4,053,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. World Investment Advisors LLC purchased a new position in shares of Intuit during the third quarter worth $201,000. Diversified Trust Co raised its position in Intuit by 28.9% in the fourth quarter. Diversified Trust Co now owns 6,912 shares of the software maker's stock valued at $4,344,000 after purchasing an additional 1,549 shares during the period. Spartan Planning & Wealth Management purchased a new stake in Intuit in the fourth quarter valued at approximately $358,000. Fulton Bank N.A. lifted its holdings in Intuit by 19.7% during the 4th quarter. Fulton Bank N.A. now owns 2,233 shares of the software maker's stock worth $1,403,000 after buying an additional 367 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock worth $15,502,000 after buying an additional 12,916 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Up 1.4%

Intuit stock traded up $9.28 on Monday, hitting $663.16. 505,904 shares of the stock traded hands, compared to its average volume of 1,590,537. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. 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 business's fifty day simple moving average is $602.37 and its 200 day simple moving average is $617.62. The firm has a market cap of $185.39 billion, a P/E ratio of 64.15, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.63%. Intuit's payout ratio is 38.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group lowered their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Oppenheimer cut their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $717.53.

Insider Activity

In other news, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 in the last ninety days. Corporate insiders own 2.68% of the company's stock.

Intuit Profile

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.