Harel Insurance Investments & Financial Services Ltd. grew its position in Intuit Inc. (NASDAQ:INTU) by 243.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,088 shares of the software maker’s stock after purchasing an additional 3,608 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Intuit were worth $1,353,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Balasa Dinverno & Foltz LLC boosted its holdings in shares of Intuit by 4.5% in the third quarter. Balasa Dinverno & Foltz LLC now owns 11,802 shares of the software maker’s stock worth $3,139,000 after buying an additional 513 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Intuit in the third quarter worth about $268,000. AE Wealth Management LLC boosted its holdings in shares of Intuit by 4.9% in the third quarter. AE Wealth Management LLC now owns 5,670 shares of the software maker’s stock worth $1,508,000 after buying an additional 264 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in shares of Intuit by 3.4% in the third quarter. Comgest Global Investors S.A.S. now owns 366,876 shares of the software maker’s stock worth $97,567,000 after buying an additional 12,000 shares during the period. Finally, Findlay Park Partners LLP boosted its holdings in shares of Intuit by 24.4% in the third quarter. Findlay Park Partners LLP now owns 398,000 shares of the software maker’s stock worth $105,844,000 after buying an additional 78,000 shares during the period. Institutional investors own 87.15% of the company’s stock.
Shares of INTU stock traded up $1.95 during trading on Tuesday, hitting $259.98. 1,136,418 shares of the company were exchanged, compared to its average volume of 1,385,957. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $66.80 billion, a price-to-earnings ratio of 46.59, a P/E/G ratio of 2.51 and a beta of 1.10. The business’s 50-day simple moving average is $262.28 and its 200 day simple moving average is $264.76. Intuit Inc. has a twelve month low of $182.61 and a twelve month high of $295.77.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $0.53 dividend. The ex-dividend date was Wednesday, October 9th. This is a boost from Intuit’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 0.82%. Intuit’s payout ratio is 37.99%.
INTU has been the subject of several research reports. Deutsche Bank cut shares of Intuit to a “sell” rating in a report on Wednesday, November 6th. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating and set a $291.00 price target for the company. in a report on Wednesday, October 23rd. UBS Group cut shares of Intuit to a “sell” rating in a report on Friday, October 25th. Oppenheimer raised their price target on shares of Intuit from $269.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, BidaskClub cut shares of Intuit from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $278.21.
In other Intuit news, SVP Jeffrey David Ayers sold 39,689 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $17.15, for a total value of $680,666.35. Also, Chairman Scott D. Cook sold 75,502 shares of Intuit stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $270.40, for a total transaction of $20,415,740.80. The disclosure for this sale can be found here. Insiders sold 285,279 shares of company stock valued at $68,553,645 over the last quarter. Corporate insiders own 4.60% of the company’s stock.
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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