XXEC Inc. Has $10.06 Million Position in Intuit Inc. (NASDAQ:INTU)

XXEC Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,999 shares of the software maker’s stock after selling 1,007 shares during the quarter. Intuit comprises about 8.3% of XXEC Inc.’s portfolio, making the stock its 3rd largest position. XXEC Inc.’s holdings in Intuit were worth $10,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Proficio Capital Partners LLC lifted its position in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the last quarter. Holocene Advisors LP grew its position in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Nordea Investment Management AB raised its stake in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. State Street Corp lifted its holdings in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $104,278,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $598.07 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $604.21 and its two-hundred day simple moving average is $626.30. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The stock has a market capitalization of $167.20 billion, a P/E ratio of 58.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit’s dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 224,460 shares of company stock worth $144,750,747. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INTU shares. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Scotiabank cut their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $720.50.

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.