Texas Capital Bank Wealth Management Services Inc Has $8.58 Million Position in Intuit Inc. (NASDAQ:INTU)

Texas Capital Bank Wealth Management Services Inc grew its position in Intuit Inc. (NASDAQ:INTU) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,656 shares of the software maker’s stock after purchasing an additional 306 shares during the period. Intuit comprises approximately 0.9% of Texas Capital Bank Wealth Management Services Inc’s holdings, making the stock its 26th biggest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in Intuit were worth $8,583,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in INTU. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter worth $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Jefferies Financial Group lowered their target price on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Morgan Stanley upgraded shares of 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. Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $718.00.

Intuit Stock Performance

NASDAQ INTU traded down $18.30 during trading on Thursday, reaching $577.14. 332,798 shares of the company’s stock were exchanged, compared to its average volume of 1,558,379. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The stock has a market capitalization of $161.35 billion, a P/E ratio of 56.03, a PEG ratio of 2.85 and a beta of 1.25. The business has a 50 day moving average price of $592.26 and a 200-day moving average price of $618.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,774 shares of company stock valued at $15,015,315. Company insiders own 2.68% of the company’s stock.

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.