Baird Financial Group Inc. trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,996 shares of the software maker’s stock after selling 843 shares during the quarter. Baird Financial Group Inc.’s holdings in Intuit were worth $3,870,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new stake in shares of Intuit during the 2nd quarter valued at about $356,000. Dupont Capital Management Corp grew its position in Intuit by 26.5% in the 2nd quarter. Dupont Capital Management Corp now owns 2,419 shares of the software maker’s stock worth $494,000 after purchasing an additional 506 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Intuit by 31.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 19,237 shares of the software maker’s stock worth $3,930,000 after purchasing an additional 4,623 shares during the last quarter. Smith Asset Management Group LP grew its position in Intuit by 4.4% in the 2nd quarter. Smith Asset Management Group LP now owns 236,236 shares of the software maker’s stock worth $48,264,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Cognios Capital LLC bought a new position in Intuit in the 2nd quarter worth about $1,028,000. 87.90% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on INTU shares. Zacks Investment Research upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 target price for the company in a research report on Tuesday, August 28th. Barclays upped their target price on shares of Intuit from $204.00 to $219.00 and gave the stock an “equal weight” rating in a research report on Friday, September 7th. Credit Suisse Group set a $250.00 target price on shares of Intuit and gave the stock a “buy” rating in a research report on Monday, October 15th. Wells Fargo & Co upped their target price on shares of Intuit from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, August 27th. Finally, Oppenheimer upped their target price on shares of Intuit from $206.00 to $224.00 and gave the stock an “outperform” rating in a research report on Friday, August 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $219.71.
Shares of NASDAQ:INTU opened at $202.46 on Friday. The company has a market capitalization of $53.89 billion, a PE ratio of 44.69, a P/E/G ratio of 2.42 and a beta of 1.19. Intuit Inc. has a twelve month low of $150.43 and a twelve month high of $231.84. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.13.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Monday, November 19th. The software maker reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.18. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $971.45 million. Intuit had a net margin of 20.71% and a return on equity of 56.35%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Equities analysts forecast that Intuit Inc. will post 5.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Stockholders of record on Thursday, January 10th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, January 9th. Intuit’s dividend payout ratio is currently 41.50%.
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Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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