HighVista Strategies LLC Has $1.78 Million Holdings in Intuit Inc. (NASDAQ:INTU)

HighVista Strategies LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 41.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,863 shares of the software maker’s stock after selling 2,000 shares during the quarter. HighVista Strategies LLC’s holdings in Intuit were worth $1,778,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of INTU. Harbor Capital Advisors Inc. raised its stake in Intuit by 0.6% during the second quarter. Harbor Capital Advisors Inc. now owns 3,267 shares of the software maker’s stock worth $2,147,000 after acquiring an additional 21 shares in the last quarter. Park Avenue Securities LLC raised its stake in Intuit by 13.4% during the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after acquiring an additional 1,328 shares in the last quarter. CWM LLC raised its stake in Intuit by 1.7% during the second quarter. CWM LLC now owns 16,683 shares of the software maker’s stock worth $10,964,000 after acquiring an additional 276 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in Intuit by 1.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 6,548 shares of the software maker’s stock worth $4,303,000 after acquiring an additional 122 shares in the last quarter. Finally, Pacific Wealth Management raised its stake in Intuit by 24.3% during the second quarter. Pacific Wealth Management now owns 762 shares of the software maker’s stock worth $501,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $634.07 on Tuesday. The stock has a market capitalization of $177.49 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 3.17 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock’s 50 day moving average price is $634.10 and its two-hundred day moving average price is $631.26. 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 (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. On average, equities analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,186 shares of company stock worth $76,339,018. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several recent research reports. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Company Profile

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.