O Shaughnessy Asset Management LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 33.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,428 shares of the software maker’s stock after purchasing an additional 1,629 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Intuit were worth $3,469,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Parisi Gray Wealth Management bought a new position in shares of Intuit during the 2nd quarter worth approximately $27,000. Princeton Global Asset Management LLC boosted its stake in shares of Intuit by 66.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 50 shares of the software maker’s stock worth $27,000 after acquiring an additional 20 shares during the period. Atlantic Trust LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $30,000. MUFG Americas Holdings Corp boosted its stake in shares of Intuit by 59.3% during the 3rd quarter. MUFG Americas Holdings Corp now owns 86 shares of the software maker’s stock worth $46,000 after acquiring an additional 32 shares during the period. Finally, Close Asset Management Ltd bought a new position in shares of Intuit during the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 79.97% of the company’s stock.
Several brokerages have recently commented on INTU. Wolfe Research lifted their target price on Intuit from $700.00 to $850.00 and gave the stock an “outperform” rating in a research note on Friday, November 19th. KeyCorp lifted their price target on Intuit from $625.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, November 19th. Mizuho lifted their price target on Intuit from $640.00 to $730.00 and gave the stock a “buy” rating in a report on Friday, November 19th. Stifel Nicolaus lifted their price target on Intuit from $625.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, November 19th. Finally, Wells Fargo & Company lifted their price target on Intuit from $625.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, November 17th. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $665.10.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 18th. The software maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.56. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.81 billion. Intuit had a return on equity of 22.39% and a net margin of 20.28%. Intuit’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, equities research analysts expect that Intuit Inc. will post 7.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Monday, January 10th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, January 7th. This represents a $2.72 dividend on an annualized basis and a yield of 0.49%. Intuit’s dividend payout ratio is currently 35.98%.
In other Intuit news, EVP James Alexander Chriss sold 336 shares of the company’s stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $691.96, for a total value of $232,498.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $607.47, for a total value of $9,112,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,950 shares of company stock worth $34,464,008 in the last 90 days. 3.27% of the stock is currently owned by corporate insiders.
Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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