CX Institutional Has $5.81 Million Holdings in Intuit Inc. (NASDAQ:INTU)

CX Institutional grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 432.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,465 shares of the software maker's stock after purchasing an additional 7,687 shares during the period. CX Institutional's holdings in Intuit were worth $5,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Intuit in the 4th quarter worth about $104,278,000. Revolve Wealth Partners LLC raised its holdings in Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after buying an additional 482 shares during the period. Empowered Funds LLC boosted its holdings in shares of Intuit by 26.4% in the fourth quarter. Empowered Funds LLC now owns 7,021 shares of the software maker's stock worth $4,413,000 after buying an additional 1,465 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in shares of Intuit by 62.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,409 shares of the software maker's stock worth $4,657,000 after acquiring an additional 2,858 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

NASDAQ:INTU traded up $5.56 during mid-day trading on Thursday, reaching $770.31. 340,847 shares of the company were exchanged, compared to its average volume of 1,838,310. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $656.45 and a 200 day moving average of $628.59. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The stock has a market cap of $214.88 billion, a PE ratio of 74.79, a PEG ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $9.88 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit's payout ratio is 33.77%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI upped their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Morgan Stanley restated an "overweight" rating and set a $785.00 price target (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and an average target price of $785.33.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,408 shares of company stock worth $213,441,865. Company insiders own 2.68% of the company's stock.

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.