Two Sigma Investments LP Sells 72,636 Shares of Intuit Inc. (NASDAQ:INTU)

Two Sigma Investments LP reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 27.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 194,814 shares of the software maker’s stock after selling 72,636 shares during the quarter. Two Sigma Investments LP owned 0.07% of Intuit worth $122,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Norges Bank bought a new stake in shares of Intuit during the 4th quarter worth $2,290,419,000. Finally, Northern Trust Corp lifted its position in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after buying an additional 498,030 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. UBS Group upped their target price on Intuit from $655.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Oppenheimer lowered their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $720.16.

Intuit Trading Up 1.4%

Shares of Intuit stock opened at $670.28 on Monday. 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 Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The stock has a 50 day moving average price of $608.44 and a two-hundred day moving average price of $619.21. The stock has a market capitalization of $187.38 billion, a PE ratio of 65.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock valued at $14,347,731. Company 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.