University of Texas Texas AM Investment Management Co. Has $407,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

University of Texas Texas AM Investment Management Co. lifted its position in Intuit Inc. (NASDAQ:INTU) by 1,602.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 647 shares of the software maker’s stock after acquiring an additional 609 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Intuit were worth $407,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, 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 transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17% 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, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction 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 sale, 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. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Up 8.1%

INTU stock opened at $720.13 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a fifty day moving average price of $616.76 and a two-hundred day moving average price of $621.21. Intuit Inc. has a one year low of $532.65 and a one year high of $734.18. The stock has a market cap of $201.32 billion, a price-to-earnings ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the business posted $9.88 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on INTU shares. UBS Group raised their target price on shares of Intuit from $720.00 to $750.00 and gave the stock a “neutral” rating in a report on Friday. Barclays raised their price target on shares of Intuit from $775.00 to $815.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group raised their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets raised their price target on shares of Intuit from $714.00 to $820.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group raised their price target on shares of Intuit from $735.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $785.33.

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.