Victory Capital Management Inc. boosted its position in Intuit Inc. (NASDAQ:INTU) by 221.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,379 shares of the software maker’s stock after purchasing an additional 11,277 shares during the quarter. Victory Capital Management Inc.’s holdings in Intuit were worth $4,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc grew its holdings in Intuit by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 18,997,220 shares of the software maker’s stock valued at $4,319,968,000 after buying an additional 704,771 shares during the period. Calamos Advisors LLC grew its holdings in Intuit by 18.9% in the 4th quarter. Calamos Advisors LLC now owns 37,888 shares of the software maker’s stock valued at $7,458,000 after buying an additional 6,027 shares during the period. We Are One Seven LLC purchased a new stake in Intuit in the 4th quarter valued at about $33,000. Eqis Capital Management Inc. grew its holdings in Intuit by 35.7% in the 4th quarter. Eqis Capital Management Inc. now owns 5,224 shares of the software maker’s stock valued at $1,028,000 after buying an additional 1,375 shares during the period. Finally, CWM LLC grew its holdings in Intuit by 20.0% in the 4th quarter. CWM LLC now owns 336 shares of the software maker’s stock valued at $66,000 after buying an additional 56 shares during the period. 87.45% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Kerry J. Mclean sold 12,176 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $250.74, for a total transaction of $3,053,010.24. Following the transaction, the senior vice president now directly owns 14,710 shares of the company’s stock, valued at approximately $3,688,385.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Alexander Chriss sold 923 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $247.10, for a total value of $228,073.30. The disclosure for this sale can be found here. Insiders have sold a total of 90,609 shares of company stock worth $22,757,853 over the last three months. 4.60% of the stock is currently owned by corporate insiders.

Several analysts have commented on the company. Guggenheim lifted their price target on Intuit from $260.00 to $310.00 in a report on Thursday, April 11th. BNP Paribas assumed coverage on Intuit in a report on Friday, March 29th. They issued an “underperform” rating and a $200.00 price target for the company. Deutsche Bank lifted their price target on Intuit from $270.00 to $280.00 and gave the company a “buy” rating in a report on Friday, April 12th. Bank of America restated a “buy” rating and issued a $264.00 price target (up previously from $252.00) on shares of Intuit in a report on Wednesday, March 6th. Finally, Goldman Sachs Group restated a “neutral” rating and issued a $212.00 price target on shares of Intuit in a report on Friday, February 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $253.40.

Shares of NASDAQ:INTU traded up $16.17 during trading on Friday, reaching $257.48. 2,681,992 shares of the stock were exchanged, compared to its average volume of 1,527,653. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $272.14. The stock has a market capitalization of $66.71 billion, a P/E ratio of 56.84, a PEG ratio of 2.87 and a beta of 1.14.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.12 by $0.43. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.82 EPS. Analysts predict that Intuit Inc. will post 5.3 earnings per share for the current year.

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Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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