Intuit Inc. (NASDAQ:INTU) Shares Bought by Junto Capital Management LP

Junto Capital Management LP lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 203.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,845 shares of the software maker's stock after purchasing an additional 101,828 shares during the period. Intuit comprises 1.8% of Junto Capital Management LP's portfolio, making the stock its 16th largest position. Junto Capital Management LP owned 0.05% of Intuit worth $95,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Intuit during the fourth quarter valued at about $2,290,419,000. Proficio Capital Partners LLC boosted its holdings in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. Wellington Management Group LLP grew its stake in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Unisphere Establishment increased its holdings in Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The shares were 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 directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of INTU stock opened at $653.88 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. 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 firm has a market capitalization of $182.80 billion, a price-to-earnings ratio of 63.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business has a 50 day simple moving average of $602.37 and a 200 day simple moving average of $617.53.

Intuit Announces Dividend

The firm also recently declared 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 0.64%. The ex-dividend date was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is 38.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INTU. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research note on Wednesday, April 23rd. Morgan Stanley cut their target price on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Citigroup decreased their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised 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 report on Wednesday, March 5th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $717.53.

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.

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