Sienna Gestion Has $13.81 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Sienna Gestion reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,132 shares of the software maker’s stock after selling 2,312 shares during the quarter. Intuit accounts for approximately 1.1% of Sienna Gestion’s holdings, making the stock its 17th biggest position. Sienna Gestion’s holdings in Intuit were worth $13,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in Intuit by 1.2% during the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock worth $1,890,282,000 after acquiring an additional 36,513 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Intuit by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker’s stock worth $1,130,718,000 after acquiring an additional 82,419 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in Intuit by 3.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker’s stock worth $10,922,000 after acquiring an additional 623 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new position in shares of Intuit in the 4th quarter valued at about $109,988,000. Finally, Malaga Cove Capital LLC boosted its stake in shares of Intuit by 110.6% in the 1st quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker’s stock valued at $537,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several recent research reports. Oppenheimer raised their target price on shares of Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Barclays restated an “overweight” rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the company an “overweight” rating in a report on Friday, June 13th. Finally, Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $806.27.

Intuit Stock Down 0.2%

Shares of NASDAQ INTU opened at $711.71 on Thursday. The company has a market cap of $198.53 billion, a P/E ratio of 57.77, a P/E/G ratio of 2.75 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $765.97 and a two-hundred day simple moving average of $669.47. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the firm earned $9.88 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio is 33.77%.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,738 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the sale, the chief accounting officer owned 455 shares in the company, valued at approximately $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president owned 19 shares of the company’s stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last 90 days. 2.68% of the stock is owned by company insiders.

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.