1,196 Shares in Intuit Inc. (NASDAQ:INTU) Bought by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. bought a new stake in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,196 shares of the software maker’s stock, valued at approximately $786,000.

Other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in Intuit during the second quarter worth approximately $12,334,000. Brown Financial Advisors acquired a new stake in Intuit during the second quarter worth approximately $1,067,000. Sycomore Asset Management lifted its position in shares of Intuit by 23.7% during the 2nd quarter. Sycomore Asset Management now owns 31,553 shares of the software maker’s stock worth $20,114,000 after buying an additional 6,039 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares in the last quarter. Finally, New Century Financial Group LLC grew its position in shares of Intuit by 52.2% in the 2nd quarter. New Century Financial Group LLC now owns 1,149 shares of the software maker’s stock valued at $755,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,522 shares of company stock valued at $32,284,911. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays cut their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Down 2.4 %

INTU opened at $606.28 on Wednesday. The business has a 50 day simple moving average of $634.00 and a 200-day simple moving average of $630.07. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock has a market capitalization of $169.48 billion, a P/E ratio of 55.93, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio is 38.38%.

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.