University of Texas Texas AM Investment Management Co. Buys 609 Shares of Intuit Inc. (NASDAQ:INTU)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Intuit in the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC increased its holdings in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after buying an additional 771,232 shares during the period. Wellington Management Group LLP increased its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Finally, Unisphere Establishment increased its holdings in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after buying an additional 500,000 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INTU shares. Citigroup boosted their price target on shares of Intuit from $726.00 to $789.00 and gave the company a “buy” rating in a report on Friday. UBS Group boosted their target price on shares of Intuit from $720.00 to $750.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley boosted their target price on shares of Intuit from $720.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer boosted their target price on shares of Intuit from $642.00 to $742.00 and gave the company an “outperform” rating in a research note on Friday. Finally, HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Stock Up 8.1%

Shares of NASDAQ:INTU opened at $720.13 on Friday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $734.18. The company’s 50-day moving average price is $616.76 and its two-hundred day moving average price is $621.21. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $201.32 billion, a P/E ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued 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. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.88 EPS. As a group, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, 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. In the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by insiders.

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.