William Blair Investment Management LLC Purchases 56,160 Shares of Intuit Inc. (NASDAQ:INTU)

William Blair Investment Management LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 583,581 shares of the software maker’s stock after purchasing an additional 56,160 shares during the quarter. Intuit makes up about 0.9% of William Blair Investment Management LLC’s investment portfolio, making the stock its 15th largest holding. William Blair Investment Management LLC owned approximately 0.21% of Intuit worth $366,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Financial Advisors boosted its holdings in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the period. Truvestments Capital LLC boosted its stake in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC lifted its holdings in shares of Intuit by 4.3% in the 4th 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 boosted its position in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares during the period. Finally, Prospera Financial Services Inc raised its position in Intuit by 1.8% in the third quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock valued at $626,000 after purchasing an additional 18 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the sale, the chief executive officer now owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,301 shares of company stock valued at $121,470,200 in the last three months. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $598.80 on Monday. 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 12 month low of $553.24 and a 12 month high of $714.78. The firm has a market capitalization of $167.40 billion, a P/E ratio of 58.14, a P/E/G ratio of 2.85 and a beta of 1.27. The company’s fifty day moving average price is $598.23 and its 200 day moving average price is $623.66.

Intuit Dividend Announcement

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

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. BMO Capital Markets lowered their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. 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. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Oppenheimer increased their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average 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.