Intuit Inc. (INTU) Stake Lessened by Addenda Capital Inc.

Addenda Capital Inc. decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 6.5% during the 4th quarter, Holdings Channel reports. The firm owned 35,732 shares of the software maker’s stock after selling 2,485 shares during the quarter. Addenda Capital Inc.’s holdings in Intuit were worth $5,638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Intuit by 2.7% in 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 purchasing an additional 444,676 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Intuit by 612.6% in 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 during the last quarter. Royal Bank of Canada increased its stake in shares of Intuit by 19.0% in 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 during the last quarter. Lindsell Train Ltd increased its stake in shares of Intuit by 7.3% in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Intuit by 52.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,852,561 shares of the software maker’s stock valued at $246,039,000 after acquiring an additional 637,400 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

In other news, CEO Brad D. Smith sold 110,496 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total value of $16,729,094.40. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. Insiders sold a total of 965,938 shares of company stock worth $149,469,127 over the last three months. 5.59% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on INTU shares. Royal Bank of Canada raised their price objective on Intuit from $141.00 to $160.00 and gave the company a “sector perform” rating in a report on Thursday, November 16th. Citigroup raised their price objective on Intuit to $170.00 in a report on Tuesday, November 21st. Raymond James Financial downgraded Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. Oppenheimer raised their price objective on Intuit from $146.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Finally, Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. Intuit presently has an average rating of “Hold” and an average target price of $157.53.

Intuit Inc. (NASDAQ:INTU) opened at $164.51 on Friday. The company has a market capitalization of $42,060.00, a PE ratio of 43.52, a price-to-earnings-growth ratio of 2.93 and a beta of 1.18. Intuit Inc. has a twelve month low of $111.90 and a twelve month high of $165.13. 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 (NASDAQ:INTU) last announced its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.30. The company had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. equities analysts anticipate that Intuit Inc. will post 3.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Tuesday, January 9th. Intuit’s dividend payout ratio is 41.27%.

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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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