Arrowstreet Capital Limited Partnership Buys 180,023 Shares of Intuit Inc. (NASDAQ:INTU)

Arrowstreet Capital Limited Partnership lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 887,343 shares of the software maker’s stock after acquiring an additional 180,023 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.32% of Intuit worth $557,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Brown Financial Advisors increased its position in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares in the last quarter. True North Advisors LLC grew its stake in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after acquiring an additional 17 shares during the last quarter. Great Diamond Partners LLC grew its stake in shares of Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares during the last quarter. RB Capital Management LLC increased its holdings in shares of Intuit by 0.6% during the third quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock valued at $1,968,000 after acquiring an additional 18 shares in the last quarter. Finally, Pacifica Partners Inc. raised its position in shares of Intuit by 27.7% in the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

INTU opened at $598.92 on Friday. The company has a market cap of $167.44 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 2.85 and a beta of 1.27. The firm’s fifty day simple moving average is $595.90 and its two-hundred day simple moving average is $622.38. 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 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued 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 payout ratio is 38.81%.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 132,896 shares of company stock worth $82,946,716. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on INTU. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. BMO Capital Markets dropped their price target on 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 lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BNP Paribas downgraded 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. Finally, Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One 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 company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit 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.