Renasant Bank Has $219,000 Stake in Intuit Inc. (NASDAQ:INTU)

Renasant Bank increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 349 shares of the software maker’s stock after buying an additional 22 shares during the quarter. Renasant Bank’s holdings in Intuit were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC increased 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 acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $29,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTU. Scotiabank cut their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Performance

INTU stock opened at $598.80 on Friday. The firm has a market cap of $167.40 billion, a PE ratio of 58.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $598.23 and a 200-day moving average price of $623.63. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend 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, CEO Sasan K. Goodarzi sold 26,562 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares in the company, valued at approximately $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction that occurred 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 approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,301 shares of company stock worth $121,470,200. Corporate 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.