University of Texas Texas AM Investment Management Co. Buys 609 Shares of Intuit Inc. (NASDAQ:INTU)

University of Texas Texas AM Investment Management Co. grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1,602.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 647 shares of the software maker's stock after purchasing an additional 609 shares during the period. University of Texas Texas AM Investment Management Co.'s holdings in Intuit were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in INTU. R Squared Ltd bought a new stake in Intuit during the fourth quarter valued at $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the 4th quarter valued at about $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Intuit in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INTU. KeyCorp reiterated an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Oppenheimer reiterated an "outperform" rating and issued a $742.00 target price (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Intuit Stock Performance

Shares of INTU traded down $2.15 during mid-day trading on Thursday, hitting $752.30. The stock had a trading volume of 691,691 shares, compared to its average volume of 1,625,208. The firm has a market cap of $210.31 billion, a P/E ratio of 73.13, a PEG ratio of 2.85 and a beta of 1.24. The business has a fifty day moving average price of $625.14 and a 200-day moving average price of $622.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $765.27.

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 (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company posted $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

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.