Mawer Investment Management Ltd. Grows Stake in Intuit Inc. (NASDAQ:INTU)


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Mawer Investment Management Ltd. grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 52.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223,334 shares of the software maker’s stock after purchasing an additional 419,560 shares during the period. Intuit makes up 2.7% of Mawer Investment Management Ltd.’s portfolio, making the stock its 14th biggest holding. Mawer Investment Management Ltd. owned about 0.47% of Intuit worth $464,603,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. MUFG Americas Holdings Corp boosted its position in Intuit by 1,600.0% during the fourth quarter. MUFG Americas Holdings Corp now owns 68 shares of the software maker’s stock valued at $26,000 after buying an additional 64 shares during the period. Clearview Wealth Advisors LLC purchased a new stake in Intuit during the fourth quarter valued at about $29,000. Adams Wealth Management purchased a new stake in Intuit during the third quarter valued at about $32,000. Slow Capital Inc. purchased a new stake in Intuit during the third quarter valued at about $33,000. Finally, WASHINGTON TRUST Co boosted its position in Intuit by 60.0% during the third quarter. WASHINGTON TRUST Co now owns 120 shares of the software maker’s stock valued at $39,000 after buying an additional 45 shares during the period. Institutional investors own 84.79% of the company’s stock.

In related news, EVP James Alexander Chriss sold 298 shares of the firm’s stock in a transaction that occurred on Monday, January 4th. The shares were sold at an average price of $379.23, for a total value of $113,010.54. Following the sale, the executive vice president now owns 315 shares in the company, valued at $119,457.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michelle M. Clatterbuck sold 412 shares of the firm’s stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $379.23, for a total transaction of $156,242.76. Following the completion of the sale, the chief financial officer now owns 978 shares in the company, valued at approximately $370,886.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,803 shares of company stock worth $1,818,699. Corporate insiders own 3.38% of the company’s stock.

Shares of NASDAQ:INTU traded down $0.74 during trading on Tuesday, reaching $400.81. 43,065 shares of the stock traded hands, compared to its average volume of 1,288,000. The stock has a 50-day moving average of $383.21 and a two-hundred day moving average of $350.92. Intuit Inc. has a 52-week low of $187.68 and a 52-week high of $423.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.09 and a current ratio of 3.09. The stock has a market cap of $105.31 billion, a P/E ratio of 52.54, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99.

Several analysts have issued reports on the stock. Evercore ISI upgraded shares of Intuit from an “in-line” rating to an “outperform” rating and set a $500.00 price target for the company in a research report on Tuesday. KeyCorp upped their price objective on shares of Intuit from $400.00 to $405.00 and gave the company an “overweight” rating in a research note on Tuesday, February 2nd. Oppenheimer upped their price objective on shares of Intuit from $382.00 to $391.00 and gave the company an “outperform” rating in a research note on Tuesday, December 8th. Morgan Stanley upped their price objective on shares of Intuit from $400.00 to $455.00 and gave the company an “overweight” rating in a research note on Friday, November 20th. Finally, Zacks Investment Research downgraded shares of Intuit from a “hold” rating to a “strong sell” rating and set a $310.00 price target for the company. in a research note on Thursday, December 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $411.09.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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