Metis Global Partners LLC Lowers Position in Intuit Inc. (NASDAQ:INTU)

Metis Global Partners LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 15.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,174 shares of the software maker’s stock after selling 2,579 shares during the quarter. Metis Global Partners LLC’s holdings in Intuit were worth $8,859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Parnassus Investments LLC raised its position in Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after buying an additional 514,259 shares in the last quarter. International Assets Investment Management LLC grew its position in Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Intuit by 9.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after acquiring an additional 270,414 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after acquiring an additional 266,803 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock traded up $15.23 on Friday, reaching $629.27. The stock had a trading volume of 1,109,512 shares, compared to its average volume of 1,209,705. The company has a 50 day simple moving average of $637.56 and a 200 day simple moving average of $606.70. The stock has a market cap of $176.20 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the 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 completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays lifted their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Piper Sandler raised their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus boosted their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

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.