OLD National Bancorp IN Lowers Stake in Intuit Inc. (NASDAQ:INTU)

OLD National Bancorp IN cut its holdings in Intuit Inc. (NASDAQ:INTU) by 16.5% in the fourth quarter, Holdings Channel reports. The fund owned 5,252 shares of the software maker’s stock after selling 1,041 shares during the quarter. OLD National Bancorp IN’s holdings in Intuit were worth $3,283,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Intuit during the third quarter valued at about $51,000. V Square Quantitative Management LLC lifted its position in shares of Intuit by 18.8% during the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after buying an additional 482 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Intuit by 27.5% during the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after buying an additional 1,900 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC purchased a new stake in shares of Intuit during the fourth quarter valued at about $1,292,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. KeyCorp upped their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Stifel Nicolaus upped their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Company upped their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Evercore ISI upped their price objective on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Trading Up 0.8 %

Shares of NASDAQ:INTU opened at $609.77 on Tuesday. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The firm has a market capitalization of $170.74 billion, a price-to-earnings ratio of 62.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The business’s 50 day moving average price is $641.98 and its 200-day moving average price is $600.94.

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

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s payout ratio is currently 36.73%.

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.