King Luther Capital Management Corp Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

King Luther Capital Management Corp increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,755 shares of the software maker's stock after buying an additional 12,563 shares during the quarter. King Luther Capital Management Corp's holdings in Intuit were worth $44,849,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of INTU. V Square Quantitative Management LLC boosted its position in Intuit by 18.8% during the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker's stock valued at $1,558,000 after purchasing an additional 482 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker's stock valued at $13,293,000 after purchasing an additional 226 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker's stock valued at $9,400,000 after buying an additional 2,074 shares during the last quarter. Hixon Zuercher LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $1,292,000. Finally, Signature Wealth Management Group acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $1,747,000. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company's stock, valued at approximately $2,083,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 280 shares of the business's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on INTU. Evercore ISI raised their price objective on Intuit from $670.00 to $725.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on Intuit from $560.00 to $585.00 and gave the company a "neutral" rating in a research report on Friday, February 23rd. KeyCorp raised their price objective on Intuit from $720.00 to $740.00 and gave the company an "overweight" rating in a research report on Monday. Morgan Stanley raised their price objective on Intuit from $680.00 to $740.00 and gave the company an "overweight" rating in a research report on Monday, May 13th. Finally, StockNews.com cut Intuit from a "buy" rating to a "hold" rating in a report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $666.59.

Intuit Price Performance

Shares of NASDAQ INTU traded up $2.45 during mid-day trading on Wednesday, hitting $670.27. 986,228 shares of the stock traded hands, compared to its average volume of 1,203,291. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $673.63. The company has a market cap of $187.68 billion, a PE ratio of 68.39, a price-to-earnings-growth ratio of 4.08 and a beta of 1.22. The firm has a 50 day simple moving average of $634.42 and a two-hundred day simple moving average of $619.29.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 11.28 EPS for the current fiscal year.

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.