Mesirow Financial Investment Management Inc. Raises Position in Intuit Inc. (NASDAQ:INTU)

Mesirow Financial Investment Management Inc. increased its stake in Intuit Inc. (NASDAQ:INTU) by 93.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,874 shares of the software maker’s stock after purchasing an additional 1,391 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Intuit were worth $1,808,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of INTU. State Street Corp raised its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. Geode Capital Management LLC increased its holdings in Intuit by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC raised its stake in Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares during the period. Bank of New York Mellon Corp lifted its holdings in Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of analyst reports. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. 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’s stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,811 shares of company stock valued at $142,391,012. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $609.61 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50 day simple moving average of $602.28 and a two-hundred day simple moving average of $625.73. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a market capitalization of $170.42 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.