Bridges Investment Management Inc. Has $19.60 Million Position in Intuit Inc. (NASDAQ:INTU)

Bridges Investment Management Inc. raised its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,918 shares of the software maker's stock after buying an additional 411 shares during the period. Bridges Investment Management Inc.'s holdings in Intuit were worth $19,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INTU. Cornerstone Planning Group LLC increased its stake in shares of Intuit by 177.3% in the first quarter. Cornerstone Planning Group LLC now owns 208 shares of the software maker's stock valued at $124,000 after buying an additional 133 shares in the last quarter. Principal Securities Inc. increased its position in Intuit by 0.7% in the 1st quarter. Principal Securities Inc. now owns 7,285 shares of the software maker's stock valued at $4,579,000 after acquiring an additional 50 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Intuit by 3.7% in the first quarter. Linden Thomas Advisory Services LLC now owns 7,636 shares of the software maker's stock worth $4,688,000 after acquiring an additional 274 shares during the last quarter. Trek Financial LLC raised its stake in shares of Intuit by 33.4% in the first quarter. Trek Financial LLC now owns 1,790 shares of the software maker's stock worth $1,099,000 after acquiring an additional 448 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its position in shares of Intuit by 5.8% during the first quarter. Personal CFO Solutions LLC now owns 3,118 shares of the software maker's stock worth $1,915,000 after purchasing an additional 170 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 1.5%

Shares of NASDAQ:INTU traded down $11.89 during trading on Wednesday, hitting $769.59. 1,486,175 shares of the company's stock traded hands, compared to its average volume of 1,622,729. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $725.37 and a 200-day moving average price of $644.37. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60. The company has a market cap of $214.68 billion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 3.48 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $9.88 EPS. As a group, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Buying and Selling

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was 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 in the company, valued at approximately $14,704.10. The trade was a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the transaction, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,467 shares of company stock valued at $209,469,167. Corporate insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INTU shares. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. Piper Sandler reaffirmed an "overweight" rating and set a $825.00 price target (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Stifel Nicolaus raised their price target on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Evercore ISI boosted their price objective on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $798.27.

Intuit Company Profile

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.