Intuit Inc. (NASDAQ:INTU) Holdings Trimmed by Jensen Investment Management Inc.

Jensen Investment Management Inc. cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 970,689 shares of the software maker’s stock after selling 12,601 shares during the quarter. Intuit makes up about 5.5% of Jensen Investment Management Inc.’s holdings, making the stock its 7th biggest position. Jensen Investment Management Inc.’s holdings in Intuit were worth $610,078,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. R Squared Ltd purchased a new position in Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC raised its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the fourth quarter valued at approximately $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. BMO Capital Markets decreased their target price 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. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Price Performance

Shares of Intuit stock opened at $598.80 on Monday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The stock has a market capitalization of $167.40 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a fifty day moving average of $598.23 and a 200-day moving average of $623.66. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insiders Place Their Bets

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 sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,301 shares of company stock valued at $121,470,200 in the last quarter. Insiders own 2.68% of the company’s stock.

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.