First Quadrant L P CA cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 71.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,173 shares of the software maker’s stock after selling 96,143 shares during the period. First Quadrant L P CA’s holdings in Intuit were worth $5,568,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Intuit by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock valued at $2,233,621,000 after acquiring an additional 444,676 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Intuit by 7.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares during the period. Janus Capital Management LLC raised its stake in shares of Intuit by 5.4% during the 1st quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after purchasing an additional 138,184 shares during the period. Janus Henderson Group PLC raised its stake in shares of Intuit by 612.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock worth $345,589,000 after purchasing an additional 2,236,974 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Intuit by 19.0% during the 2nd quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock worth $333,124,000 after purchasing an additional 400,406 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.
Intuit Inc. (NASDAQ INTU) opened at 151.02 on Wednesday. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 40.60 and a beta of 1.15. The firm’s 50-day moving average price is $145.33 and its 200-day moving average price is $136.89. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $153.86.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. During the same quarter last year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post $4.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.03%. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is 41.94%.
In other news, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $135.22, for a total value of $24,790,423.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mark J. Flournoy sold 1,868 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $142.31, for a total value of $265,835.08. Following the completion of the transaction, the vice president now directly owns 1,713 shares in the company, valued at approximately $243,777.03. The disclosure for this sale can be found here. Insiders sold 1,084,194 shares of company stock worth $151,162,540 in the last ninety days. Corporate insiders own 5.70% of the company’s stock.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group LLC assumed coverage on Intuit in a research note on Thursday, August 24th. They set a “buy” rating and a $157.00 target price on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $150.00 target price on shares of Intuit in a research note on Wednesday, August 23rd. Bank of America Corporation reiterated a “buy” rating and set a $145.00 target price on shares of Intuit in a research note on Wednesday, August 23rd. Finally, Moffett Nathanson assumed coverage on Intuit in a research note on Thursday, September 7th. They set a “buy” rating and a $150.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $143.42.
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Intuit Company Profile
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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