Chesley Taft & Associates LLC held its position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the software maker’s stock at the end of the second quarter. Chesley Taft & Associates LLC’s holdings in Intuit were worth $797,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in INTU. BlackRock Inc. raised its position in shares of Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after buying an additional 16,306,976 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Intuit by 2.2% in the first quarter. Vanguard Group Inc. now owns 16,373,494 shares of the software maker’s stock valued at $1,899,162,000 after buying an additional 359,330 shares during the period. Morgan Stanley boosted its stake in shares of Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock valued at $403,505,000 after buying an additional 966,936 shares during the period. Janus Capital Management LLC boosted its stake in shares of Intuit by 5.4% in the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock valued at $312,593,000 after buying an additional 138,184 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Intuit by 7.8% in the first quarter. Geode Capital Management LLC now owns 2,686,750 shares of the software maker’s stock valued at $311,244,000 after buying an additional 194,751 shares during the period. 85.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 1.07% during trading on Friday, reaching $136.60. 747,234 shares of the company traded hands. The firm’s 50-day moving average is $135.14 and its 200-day moving average is $127.61. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81. The stock has a market capitalization of $35.00 billion, a PE ratio of 39.25 and a beta of 1.15.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping the Zacks’ consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company earned $3.43 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. Intuit’s dividend payout ratio (DPR) is 39.19%.
Several equities research analysts have commented on INTU shares. Stifel Nicolaus boosted their price target on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Citigroup Inc. lowered shares of Intuit from a “buy” rating to a “neutral” rating and decreased their price target for the company from $148.00 to $141.00 in a research note on Monday, June 26th. Deutsche Bank AG upped their price target on shares of Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Royal Bank Of Canada upped their price target on shares of Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $135.63.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 74,052 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $139.46, for a total transaction of $10,327,291.92. The disclosure for this sale can be found here. Insiders sold a total of 151,265 shares of company stock valued at $21,085,104 in the last ninety days. 5.70% of the stock is owned by corporate insiders.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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