Two Sigma Investments LP Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Two Sigma Investments LP lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 27.2% in the fourth quarter, Holdings Channel reports. The firm owned 194,814 shares of the software maker’s stock after selling 72,636 shares during the period. Two Sigma Investments LP’s holdings in Intuit were worth $122,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. R Squared Ltd bought a new position in Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% during the 4th 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 purchased a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last three months. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on INTU shares. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Oppenheimer cut their price target on Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. BMO Capital Markets dropped their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Mizuho lifted their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $720.16.

Intuit Stock Performance

Intuit stock opened at $670.28 on Monday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $187.38 billion, a PE ratio of 65.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The firm’s 50 day simple moving average is $608.44 and its 200 day simple moving average is $619.21.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s payout ratio is 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.