Intuit Inc. (NASDAQ:INTU) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,339 shares of the software maker's stock after buying an additional 1,273 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Intuit were worth $12,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Parcion Private Wealth LLC increased its position in shares of Intuit by 10.5% during the first quarter. Parcion Private Wealth LLC now owns 685 shares of the software maker's stock worth $421,000 after acquiring an additional 65 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Intuit during the 1st quarter worth about $10,360,000. Capital A Wealth Management LLC lifted its stake in shares of Intuit by 17.7% during the 1st quarter. Capital A Wealth Management LLC now owns 479 shares of the software maker's stock worth $294,000 after buying an additional 72 shares during the last quarter. Bridgewater Advisors Inc. acquired a new stake in Intuit in the 1st quarter worth about $1,007,000. Finally, Kornitzer Capital Management Inc. KS raised its stake in Intuit by 1.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 3,927 shares of the software maker's stock worth $2,411,000 after purchasing an additional 37 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Morgan Stanley upped their price objective on shares of Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $800.55.

Intuit Stock Down 0.4%

INTU stock traded down $2.74 on Friday, reaching $752.63. 1,504,966 shares of the company traded hands, compared to its average volume of 1,624,459. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The firm has a fifty day simple moving average of $743.99 and a 200-day simple moving average of $650.62. 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 company has a market cap of $209.95 billion, a P/E ratio of 61.09, a price-to-earnings-growth ratio of 3.35 and a beta of 1.27.

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 analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.88 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 2,591 shares of the company'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 transaction, the chief financial officer directly owned 768 shares in the company, valued at $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 882 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by company insiders.

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.