Sompo Japan Nipponkoa Asset Management CO. LTD. Acquires New Stake in Intuit Inc. (INTU)

Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new position in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,570 shares of the software maker’s stock, valued at approximately $2,213,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Intuit by 2.7% in the second quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after acquiring an additional 444,676 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Intuit by 7.8% in the second quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after acquiring an additional 347,159 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Intuit by 612.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after purchasing an additional 2,236,974 shares in the last quarter. Royal Bank of Canada grew its holdings in Intuit by 19.0% during the 2nd quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock valued at $333,124,000 after purchasing an additional 400,406 shares in the last quarter. Finally, Lindsell Train Ltd grew its holdings in Intuit by 7.3% during the 3rd quarter. Lindsell Train Ltd now owns 2,369,800 shares of the software maker’s stock valued at $336,843,000 after purchasing an additional 162,000 shares in the last quarter. 86.28% of the stock is owned by institutional investors.

Intuit Inc. (INTU) opened at $154.54 on Tuesday. The firm has a market cap of $39,510.00, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 2.82 and a beta of 1.18. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.35. Intuit Inc. has a fifty-two week low of $111.48 and a fifty-two week high of $158.90.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.30. The company had revenue of $886.00 million during the quarter, compared to analyst estimates of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. sell-side analysts predict that Intuit Inc. will post 3.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.01%. The ex-dividend date is Tuesday, January 9th. Intuit’s dividend payout ratio is currently 41.27%.

In other Intuit news, CEO Brad D. Smith sold 110,496 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $151.40, for a total transaction of $16,729,094.40. Following the completion of the transaction, the chief executive officer now directly owns 399,246 shares of the company’s stock, valued at approximately $60,445,844.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO R Neil Williams sold 184,585 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the transaction, the chief financial officer now directly owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,097,555 shares of company stock valued at $160,825,842. 5.59% of the stock is owned by company insiders.

INTU has been the subject of a number of recent analyst reports. Jefferies Group initiated coverage on shares of Intuit in a report on Thursday, August 24th. They set a “buy” rating and a $157.00 price target for the company. UBS initiated coverage on shares of Intuit in a report on Thursday, November 9th. They set a “neutral” rating and a $152.00 price target for the company. Oppenheimer raised their price target on shares of Intuit from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. Bank of America reaffirmed a “buy” rating and set a $145.00 price target on shares of Intuit in a report on Wednesday, August 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $155.00 price target (up from $150.00) on shares of Intuit in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $152.89.

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About Intuit

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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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