Logan Capital Management Inc. Has $3.93 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Logan Capital Management Inc. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,245 shares of the software maker’s stock after selling 666 shares during the quarter. Logan Capital Management Inc.’s holdings in Intuit were worth $3,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of INTU. R Squared Ltd acquired a new position in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction 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 approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, 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 sold 23,696 shares of company stock valued at $14,347,731. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on INTU. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Mizuho upped 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. Oppenheimer dropped their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $717.53.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $662.30 on Tuesday. The business has a fifty day moving average of $603.27 and a 200-day moving average of $617.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The firm has a market cap of $185.15 billion, a PE ratio of 64.30, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

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

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.