Insight Holdings Group LLC Buys New Holdings in Intuit Inc. (NASDAQ:INTU)

Insight Holdings Group LLC bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,000 shares of the software maker's stock, valued at approximately $5,656,000. Intuit comprises about 0.4% of Insight Holdings Group LLC's holdings, making the stock its 17th biggest position.

A number of other institutional investors have also recently made changes to their positions in INTU. Vanguard Group Inc. lifted its position in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the period. Geode Capital Management LLC grew its position in Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares during the period. Wellington Management Group LLP increased its position in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth $2,290,419,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock valued at $1,499,744,000 after acquiring an additional 88,487 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was 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 of the company's stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 over the last three months. Insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Oppenheimer cut their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and increased their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Jefferies Financial Group reduced their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

Intuit Price Performance

NASDAQ INTU traded up $4.32 on Wednesday, hitting $627.47. The company had a trading volume of 1,313,935 shares, compared to its average volume of 1,580,448. 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 company has a market capitalization of $175.42 billion, a PE ratio of 60.92, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The company's fifty day moving average price is $596.32 and its 200-day moving average price is $616.22.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is 38.81%.

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.