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 stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 1,602.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 647 shares of the software maker's stock after acquiring an additional 609 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Intuit were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. XML Financial LLC increased its stake in Intuit by 20.1% during the 4th quarter. XML Financial LLC now owns 395 shares of the software maker's stock worth $248,000 after purchasing an additional 66 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Intuit by 25.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 39,268 shares of the software maker's stock worth $24,680,000 after purchasing an additional 7,863 shares in the last quarter. True North Advisors LLC increased its stake in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock worth $257,000 after purchasing an additional 17 shares in the last quarter. Mutual Advisors LLC increased its stake in Intuit by 4.6% during the 4th quarter. Mutual Advisors LLC now owns 2,813 shares of the software maker's stock worth $1,708,000 after purchasing an additional 123 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in Intuit by 7.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 393 shares of the software maker's stock worth $247,000 after purchasing an additional 28 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

INTU traded up $2.49 during trading hours on Wednesday, reaching $754.45. The company's stock had a trading volume of 2,464,341 shares, compared to its average volume of 1,632,699. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $758.42. The company's 50-day moving average is $622.13 and its 200-day moving average is $621.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $210.92 billion, a PE ratio of 73.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

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

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on 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 sale, the executive vice president now owns 40,190 shares of the company's stock, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent research reports. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group upped their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $825.00 price target (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $785.33.

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.