Bridges Investment Management Inc. Grows Stock Position in Cintas Corporation (NASDAQ:CTAS)

Bridges Investment Management Inc. increased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274,122 shares of the business services provider's stock after buying an additional 2,491 shares during the quarter. Bridges Investment Management Inc. owned 0.07% of Cintas worth $56,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CTAS. Ameriprise Financial Inc. boosted its holdings in shares of Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after buying an additional 468,950 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Cintas during the 4th quarter valued at $284,000. Treasurer of the State of North Carolina boosted its holdings in shares of Cintas by 12.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock valued at $31,092,000 after buying an additional 18,620 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Cintas by 97.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider's stock valued at $1,365,000 after buying an additional 3,690 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Cintas by 5.7% during the 4th quarter. Bank of Montreal Can now owns 575,491 shares of the business services provider's stock valued at $105,142,000 after buying an additional 30,811 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director owned 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.00% of the company's stock.

Cintas Stock Performance

NASDAQ:CTAS traded down $1.12 during mid-day trading on Friday, reaching $215.44. The company's stock had a trading volume of 1,035,324 shares, compared to its average volume of 1,670,659. Cintas Corporation has a 12-month low of $178.42 and a 12-month high of $229.24. The firm's fifty day moving average price is $220.63 and its two-hundred day moving average price is $207.03. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The stock has a market cap of $86.99 billion, a P/E ratio of 49.90, a PEG ratio of 3.36 and a beta of 1.05.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of research reports. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their price target on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. UBS Group lifted their price target on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research report on Thursday, May 1st. Finally, Bank of America initiated coverage on Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $219.58.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.