Xponance Inc. Has $38.74 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Xponance Inc. lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 61,978 shares of the software maker’s stock after selling 148 shares during the quarter. Xponance Inc.’s holdings in Intuit were worth $38,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. NewSquare Capital LLC bought a new position in shares of Intuit during the 3rd quarter worth approximately $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit during the 3rd quarter worth approximately $26,000. Steward Financial Group LLC boosted its holdings in shares of Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares in the last quarter. Aspire Private Capital LLC boosted its holdings in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after buying an additional 39 shares in the last quarter. Finally, Webster Bank N. A. bought a new position in shares of Intuit during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Intuit Stock Performance

Shares of Intuit stock traded down $4.83 during trading hours on Thursday, hitting $608.38. 773,735 shares of the company’s stock traded hands, compared to its average volume of 1,240,533. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The stock has a market capitalization of $170.35 billion, a price-to-earnings ratio of 62.04, a PEG ratio of 3.72 and a beta of 1.21. The company has a fifty day simple moving average of $644.88 and a 200-day simple moving average of $598.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm posted $1.05 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Barclays increased their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Stifel Nicolaus increased their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Mizuho increased their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Piper Sandler increased their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

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.