Xponance Inc. Purchases 653 Shares of Intuit Inc. (NASDAQ:INTU)

Xponance Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,551 shares of the software maker’s stock after buying an additional 653 shares during the quarter. Xponance Inc.’s holdings in Intuit were worth $41,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC lifted its stake in shares of Intuit by 134.7% in the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the period. Parnassus Investments LLC increased its stake in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Intuit by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after acquiring an additional 1,990 shares during the period. Wellington Management Group LLP boosted its stake in Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $644.99 on Monday. The firm has a market capitalization of $180.31 billion, a P/E ratio of 59.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $636.82 and its 200 day simple moving average is $631.11. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

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, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.64%. Intuit’s dividend payout ratio is presently 38.38%.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,389 shares of company stock valued at $14,231,188. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Citigroup lifted their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $720.37.

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.