Spartan Planning & Wealth Management Buys New Holdings in Intuit Inc. (NASDAQ:INTU)

Spartan Planning & Wealth Management purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 569 shares of the software maker’s stock, valued at approximately $358,000.

A number of other large investors also recently modified their holdings of the company. Diversified Trust Co increased its holdings in Intuit by 28.9% in the fourth quarter. Diversified Trust Co now owns 6,912 shares of the software maker’s stock valued at $4,344,000 after buying an additional 1,549 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Intuit by 5.5% in the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the software maker’s stock valued at $2,544,000 after acquiring an additional 210 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Intuit by 22.9% during the 4th quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock worth $185,000 after acquiring an additional 55 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Intuit by 33.2% during the third quarter. Lord Abbett & CO. LLC now owns 1,408 shares of the software maker’s stock worth $874,000 after purchasing an additional 351 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. This represents a 89.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 289,848 shares of company stock worth $187,041,365 over the last ninety days. 2.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent analyst reports. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Performance

NASDAQ:INTU traded down $9.18 during mid-day trading on Tuesday, reaching $615.98. The stock had a trading volume of 450,783 shares, compared to its average volume of 967,878. 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 $557.29 and a twelve month high of $714.78. The firm has a market capitalization of $172.42 billion, a price-to-earnings ratio of 59.80, a PEG ratio of 3.24 and a beta of 1.25. The business has a 50 day simple moving average of $649.30 and a 200 day simple moving average of $638.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.