Xponance Inc. Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Xponance Inc. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 63,575 shares of the software maker’s stock after purchasing an additional 1,902 shares during the quarter. Xponance Inc.’s holdings in Intuit were worth $39,957,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Generali Asset Management SPA SGR purchased a new position in Intuit during the 4th quarter valued at $19,470,000. Evoke Wealth LLC lifted its holdings in shares of Intuit by 1.8% in the 4th quarter. Evoke Wealth LLC now owns 6,754 shares of the software maker’s stock worth $4,245,000 after buying an additional 117 shares during the period. Horizon Investments LLC raised its position in shares of Intuit by 40.8% in the 4th quarter. Horizon Investments LLC now owns 9,624 shares of the software maker’s stock worth $6,039,000 after acquiring an additional 2,789 shares in the last quarter. BlackDiamond Wealth Management LLC raised its position in shares of Intuit by 15.8% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 424 shares of the software maker’s stock worth $266,000 after acquiring an additional 58 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in Intuit by 10.6% during the 4th quarter. William Blair Investment Management LLC now owns 583,581 shares of the software maker’s stock valued at $366,781,000 after buying an additional 56,160 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Finally, Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Insider Activity

In other news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,301 shares of company stock valued at $121,470,200. Insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.6 %

Intuit stock opened at $602.11 on Tuesday. The company has a market capitalization of $168.33 billion, a P/E ratio of 58.46, a P/E/G ratio of 2.85 and a beta of 1.27. The firm’s fifty day simple moving average is $597.76 and its 200-day simple moving average is $623.51. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

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.