National Pension Service Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

National Pension Service trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 562,583 shares of the software maker’s stock after selling 63,730 shares during the period. National Pension Service owned about 0.20% of Intuit worth $353,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brown Financial Advisors increased its stake in Intuit by 0.9% in 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 during the period. Truvestments Capital LLC grew its holdings in shares of Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares in the last quarter. True North Advisors LLC increased its stake in shares of Intuit by 4.3% in 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 raised its holdings 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 in the last quarter. Finally, Cornerstone Wealth Group LLC boosted its position in Intuit by 2.7% during the third quarter. Cornerstone Wealth Group LLC now owns 686 shares of the software maker’s stock valued at $426,000 after purchasing an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INTU shares. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Jefferies Financial Group raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Stifel Nicolaus cut 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.71.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares in the company, valued at approximately $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value 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 approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,014 shares of company stock valued at $140,855,687. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $555.63 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $155.53 billion, a PE ratio of 53.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The firm has a fifty day moving average price of $607.70 and a two-hundred day moving average price of $627.55. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

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.