Xponance Inc. Purchases 1,555 Shares of Intuit Inc. (NASDAQ:INTU)

Xponance Inc. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,130 shares of the software maker's stock after buying an additional 1,555 shares during the quarter. Xponance Inc.'s holdings in Intuit were worth $39,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Intuit in the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC raised its holdings in Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after acquiring an additional 2,821,534 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after acquiring an additional 771,232 shares during the period. Wellington Management Group LLP raised its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the period. Finally, Unisphere Establishment raised its holdings in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after acquiring an additional 500,000 shares during the period. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on INTU shares. Bank of America increased their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. The Goldman Sachs Group increased their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Evercore ISI increased their target price on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $800.55.

Insiders Place Their Bets

In related news, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares of the company's stock, valued at $31,017,164.28. This represents a 45.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer directly owned 197 shares of the company's stock, valued at $143,047.61. The trade was a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 over the last 90 days. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU remained flat at $747.90 during trading hours on Friday. 1,047,778 shares of the company traded hands, compared to its average volume of 1,623,598. The firm has a market cap of $208.63 billion, a P/E ratio of 60.71, a PEG ratio of 3.33 and a beta of 1.27. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $733.03 and a two-hundred day moving average of $646.71. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.88 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

About Intuit

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.