Intuit Inc. (NASDAQ:INTU) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 38.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 334,552 shares of the software maker’s stock after selling 211,860 shares during the quarter. Sei Investments Co. owned approximately 0.12% of Intuit worth $210,274,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its stake in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Intuit in the fourth quarter valued at $300,854,000. Holocene Advisors LP increased its stake in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Nordea Investment Management AB increased its stake in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its stake in Intuit by 20.7% in the fourth quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock valued at $898,344,000 after purchasing an additional 245,372 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,348 shares of company stock worth $73,515,245. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on INTU. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Price Performance

Shares of NASDAQ INTU opened at $604.04 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The business has a 50-day moving average of $596.08 and a 200-day moving average of $622.81. The company has a market capitalization of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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