CX Institutional Has $1.22 Million Stake in Intuit Inc. (NASDAQ:INTU)

CX Institutional lowered its position in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,946 shares of the software maker’s stock after selling 50 shares during the quarter. CX Institutional’s holdings in Intuit were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fairfield Bush & CO. boosted its holdings in Intuit by 39.6% in the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after purchasing an additional 1,035 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Intuit by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock worth $242,492,000 after buying an additional 48,196 shares in the last quarter. Cetera Investment Advisers increased its stake in Intuit by 8.4% during the 1st quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 249 shares during the period. Baird Financial Group Inc. raised its holdings in Intuit by 7.1% in the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock valued at $25,825,000 after acquiring an additional 3,576 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Intuit by 6.6% during the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock valued at $16,448,000 after acquiring an additional 2,127 shares during the period. 82.63% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

INTU stock opened at $643.74 on Friday. The company has a market capitalization of $180.25 billion, a P/E ratio of 65.69, a PEG ratio of 3.97 and a beta of 1.22. The company has a fifty day moving average price of $643.85 and a 200-day moving average price of $584.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01.

Intuit (NASDAQ:INTUGet Free Report) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. During the same period last year, the company earned $1.05 EPS. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.56%. Intuit’s payout ratio is 36.73%.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the completion of the sale, the executive vice president now owns 50,030 shares of the company’s stock, valued at $29,497,688. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 14,771 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the completion of the sale, the executive vice president now owns 50,030 shares in the company, valued at approximately $29,497,688. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,260 shares of company stock worth $20,667,475. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of a number of recent analyst reports. Susquehanna raised their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Oppenheimer increased their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. BMO Capital Markets boosted their price objective on shares of Intuit from $605.00 to $640.00 and gave the company an “outperform” rating in a research report on Wednesday, November 29th. Morgan Stanley raised their target price on Intuit from $525.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, November 29th. Finally, Citigroup boosted their price target on Intuit from $565.00 to $651.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.52.

Check Out Our Latest Analysis on INTU

About Intuit

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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