Ninety One UK Ltd Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Ninety One UK Ltd cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,450,564 shares of the software maker's stock after selling 491,610 shares during the quarter. Intuit makes up about 2.7% of Ninety One UK Ltd's investment portfolio, making the stock its 7th largest position. Ninety One UK Ltd owned approximately 0.52% of Intuit worth $906,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fairfield Bush & CO. lifted its position in shares of Intuit by 39.6% in the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker's stock worth $1,754,000 after purchasing an additional 1,035 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Intuit by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker's stock worth $242,492,000 after buying an additional 48,196 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Intuit by 8.4% during the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker's stock worth $1,552,000 after buying an additional 249 shares during the period. Baird Financial Group Inc. boosted its position in Intuit by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker's stock valued at $25,825,000 after acquiring an additional 3,576 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Intuit by 6.6% during the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker's stock valued at $16,448,000 after acquiring an additional 2,127 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Down 0.8 %

Shares of INTU stock traded down $4.83 during trading hours on Thursday, reaching $608.38. 790,870 shares of the stock were exchanged, compared to its average volume of 1,243,946. The business's fifty day moving average is $644.88 and its two-hundred day moving average is $598.39. The firm has a market capitalization of $170.35 billion, a P/E ratio of 62.04, a P/E/G ratio of 3.72 and a beta of 1.21. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The firm's revenue was up 11.3% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit's dividend payout ratio is presently 36.73%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on INTU shares. Susquehanna upped their price objective on Intuit from $700.00 to $775.00 and gave the stock a "positive" rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their target price on Intuit from $600.00 to $720.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. KeyCorp increased their target price on Intuit from $700.00 to $720.00 and gave the company an "overweight" rating in a research report on Wednesday, March 27th. Piper Sandler increased their price objective on Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $645.00.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Alex G. Balazs sold 280 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last ninety days. Insiders own 2.90% of the company's stock.

Intuit Company 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.