Cohen Klingenstein LLC held its stake in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,600 shares of the software maker’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Intuit were worth $2,736,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of INTU. Cutler Group LP boosted its stake in shares of Intuit by 104.4% in the first quarter. Cutler Group LP now owns 3,286 shares of the software maker’s stock valued at $381,000 after buying an additional 1,678 shares in the last quarter. National Pension Service boosted its stake in shares of Intuit by 2.6% in the first quarter. National Pension Service now owns 200,470 shares of the software maker’s stock valued at $23,178,000 after buying an additional 5,096 shares in the last quarter. Addenda Capital Inc. boosted its stake in shares of Intuit by 5.5% in the first quarter. Addenda Capital Inc. now owns 41,329 shares of the software maker’s stock valued at $4,793,000 after buying an additional 2,169 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Intuit by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 75,405 shares of the software maker’s stock valued at $8,746,000 after buying an additional 1,600 shares in the last quarter. Finally, Forte Capital LLC ADV boosted its stake in shares of Intuit by 8.8% in the first quarter. Forte Capital LLC ADV now owns 28,808 shares of the software maker’s stock valued at $3,341,000 after buying an additional 2,340 shares in the last quarter. 85.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 136.60 on Friday. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The company’s 50 day moving average is $135.04 and its 200 day moving average is $127.75. The company has a market capitalization of $35.00 billion, a price-to-earnings ratio of 39.25 and a beta of 1.15.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.03. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. Intuit’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.43 earnings per share. Equities research analysts predict that Intuit Inc. will post $4.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, July 6th. Intuit’s dividend payout ratio is currently 39.19%.
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Several analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, May 24th. Credit Suisse Group increased their price target on shares of Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Citigroup Inc. cut 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. Royal Bank Of Canada increased 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. Finally, CIBC increased their price objective on shares of Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $135.63.
In other news, Director Dennis D. Powell sold 16,686 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $136.82, for a total value of $2,282,978.52. Following the transaction, the director now owns 4,554 shares in the company, valued at $623,078.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 74,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was 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 151,265 shares of company stock worth $21,085,104 over the last ninety days. 5.70% of the stock is currently owned by 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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