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

Bridges Investment Management Inc. raised 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 & Exchange Commission. The institutional investor owned 31,918 shares of the software maker's stock after purchasing an additional 411 shares during the quarter. Bridges Investment Management Inc.'s holdings in Intuit were worth $19,597,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of INTU. Copia Wealth Management acquired a new position in shares of Intuit in the 4th quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. VSM Wealth Advisory LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $35,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Intuit in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on INTU shares. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. Citigroup restated a "buy" rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays restated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $800.55.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 2,591 shares of the business's stock in a transaction 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 sale, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. The trade was a 77.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last ninety days. Company insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of INTU remained flat at $747.90 during midday trading on Friday. The stock had a trading volume of 1,047,778 shares, compared to its average volume of 1,621,283. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. 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 firm has a 50 day moving average of $733.03 and a 200 day moving average of $646.70. The firm has a market cap of $208.63 billion, a P/E ratio of 60.71, a P/E/G ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 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 company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 EPS. The company's quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend 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.