361 Capital LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 41,506 shares of the software maker’s stock, valued at approximately $5,512,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Comgest Global Investors S.A.S. grew its holdings in shares of Intuit by 2.4% in the second quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock worth $58,433,000 after purchasing an additional 10,400 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Intuit by 218.4% in the second quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock worth $30,483,000 after purchasing an additional 157,101 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd grew its holdings in shares of Intuit by 2,125.0% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock worth $5,162,000 after purchasing an additional 42,500 shares during the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after purchasing an additional 5 shares during the last quarter. Finally, State Treasurer State of Michigan grew its holdings in shares of Intuit by 0.3% in the second quarter. State Treasurer State of Michigan now owns 79,984 shares of the software maker’s stock worth $10,623,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 85.97% of the company’s stock.
In other Intuit news, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $135.22, for a total transaction of $24,790,423.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO R Neil Williams sold 184,585 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the transaction, the chief financial officer now directly owns 64,620 shares in the company, valued at approximately $9,118,528.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,084,194 shares of company stock worth $151,162,540. Insiders own 5.70% of the company’s stock.
Intuit Inc. (INTU) traded up 0.23% during trading on Wednesday, hitting $145.84. The stock had a trading volume of 256,230 shares. The company has a market cap of $37.19 billion, a PE ratio of 39.20 and a beta of 1.15. The company’s 50 day moving average is $142.81 and its 200-day moving average is $134.30. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $146.99.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, equities research analysts predict that Intuit Inc. will post $4.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be issued a $0.39 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.07%. This is a boost from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio is currently 41.94%.
A number of analysts recently commented on INTU shares. Wells Fargo & Company raised Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price target for the company in a research note on Thursday, September 21st. Raymond James Financial, Inc. lowered Intuit from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 27th. First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective for the company in a research report on Wednesday, August 23rd. Royal Bank Of Canada restated a “hold” rating and set a $141.00 price target on shares of Intuit in a report on Thursday, August 24th. Finally, William Blair started coverage on Intuit in a report on Tuesday, September 19th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $142.74.
Intuit Company Profile
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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