Intuit Inc. (NASDAQ:INTU) is XXEC Inc.'s 5th Largest Position

XXEC Inc. decreased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,348 shares of the software maker's stock after selling 651 shares during the quarter. Intuit comprises approximately 8.2% of XXEC Inc.'s holdings, making the stock its 5th largest position. XXEC Inc.'s holdings in Intuit were worth $9,424,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth approximately $2,290,419,000. Finally, Northern Trust Corp lifted its position in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

NASDAQ INTU traded down $0.12 during trading on Thursday, hitting $766.69. 646,189 shares of the company's stock traded hands, compared to its average volume of 1,616,880. The stock has a market capitalization of $213.87 billion, a price-to-earnings ratio of 74.44, a PEG ratio of 2.85 and a beta of 1.24. 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 business has a 50 day moving average of $640.03 and a 200-day moving average of $624.89. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.47.

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

Intuit Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 25,648 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president now directly owns 22,796 shares in the company, valued at approximately $17,148,291. This represents a 52.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the 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 sale, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,804 shares of company stock worth $138,081,963 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INTU shares. Barclays restated an "overweight" rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley restated an "overweight" rating and issued a $785.00 price objective (up previously from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $785.33.

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.