Horizon Investments LLC Has $6.04 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Horizon Investments LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 40.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,624 shares of the software maker’s stock after purchasing an additional 2,789 shares during the period. Horizon Investments LLC’s holdings in Intuit were worth $6,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTU. Proficio Capital Partners LLC boosted its holdings 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 acquiring an additional 1,062,847 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Intuit in the 4th quarter valued at about $300,854,000. Holocene Advisors LP grew its position in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Finally, Sustainable Growth Advisers LP raised its stake in shares of Intuit by 20.7% during the fourth quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock worth $898,344,000 after buying an additional 245,372 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.6 %

NASDAQ:INTU opened at $602.11 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a market cap of $168.33 billion, a P/E ratio of 58.46, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50 day moving average price of $597.76 and a two-hundred day moving average price of $623.51.

Intuit Dividend Announcement

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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, five have given 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 a consensus target price of $721.61.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,301 shares of company stock worth $121,470,200 in the last three months. Insiders own 2.68% of the company’s stock.

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.