Nordea Investment Management AB Has $371.98 Million Stake in Intuit Inc. (NASDAQ:INTU)

Nordea Investment Management AB lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 83.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,085 shares of the software maker’s stock after purchasing an additional 268,060 shares during the quarter. Nordea Investment Management AB’s holdings in Intuit were worth $371,984,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP boosted its position in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. State Street Corp raised its position in Intuit by 1.8% in the 3rd 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 last quarter. Finally, Clearbridge Investments LLC lifted its stake in Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INTU shares. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the sale, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,814 shares of company stock valued at $170,119,823. 2.68% of the stock is owned by insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $630.23 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $176.41 billion, a PE ratio of 61.19, a PEG ratio of 3.24 and a beta of 1.25. The firm has a 50 day moving average of $649.04 and a 200-day moving average of $638.38. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s payout ratio is currently 40.39%.

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.