Voleon Capital Management LP Invests $3.38 Million in Intuit Inc. (NASDAQ:INTU)

Voleon Capital Management LP purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 5,371 shares of the software maker's stock, valued at approximately $3,376,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Intuit during the fourth quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. lifted its holdings in Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after acquiring an additional 1,602 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in Intuit by 109.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after acquiring an additional 12,916 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INTU. Citigroup dropped their price target on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Oppenheimer reduced their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Jefferies Financial Group dropped their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average target price of $717.53.

Intuit Price Performance

Shares of INTU stock traded up $8.49 during mid-day trading on Friday, hitting $631.68. 1,367,187 shares of the stock traded hands, compared to its average volume of 1,582,510. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company's 50-day simple moving average is $598.96 and its 200-day simple moving average is $616.36. The firm has a market cap of $176.59 billion, a price-to-earnings ratio of 61.33, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors 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 yield of 0.66%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is currently 38.81%.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares of the company's stock, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

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.