Intuit Inc. (NASDAQ:INTU) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and 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 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INTU. Copia Wealth Management purchased a new stake in shares of Intuit during the 4th quarter worth $25,000. Summit Securities Group LLC purchased a new stake in Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth about $28,000. VSM Wealth Advisory LLC acquired a new stake in shares of Intuit during the 4th quarter valued at approximately $35,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Intuit during the 1st quarter worth approximately $37,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research analyst reports. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Evercore ISI raised their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price objective (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, KeyCorp restated an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $800.55.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the business'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 transaction, the executive vice president owned 19 shares in the company, valued at $14,704.10. The trade was a 98.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 2,591 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,467 shares of company stock valued at $209,469,167. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 2.5%

INTU stock traded down $19.24 during trading on Thursday, reaching $749.31. 973,184 shares of the stock traded hands, compared to its average volume of 1,620,280. The firm has a market capitalization of $209.02 billion, a PE ratio of 60.88, a P/E/G ratio of 3.48 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The business's 50 day moving average price is $728.22 and its 200-day moving average price is $645.23. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $790.60.

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

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Intuit 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.