Nippon Life Global Investors Americas Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 11.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,270 shares of the software maker’s stock after selling 7,010 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Intuit were worth $6,527,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in INTU. Guardian Life Insurance Co. of America raised its position 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 valued at $109,000 after buying an additional 5 shares during the period. Johnson Financial Group Inc. raised its position in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after buying an additional 59 shares during the period. Formidable Asset Management LLC acquired a new stake in Intuit during the first quarter valued at about $208,000. Lincoln National Corp acquired a new stake in Intuit during the first quarter valued at about $205,000. Finally, Miller Howard Investments Inc. NY acquired a new stake in Intuit during the first quarter valued at about $205,000. 85.29% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc. (NASDAQ:INTU) traded down 0.90% on Friday, hitting $135.64. 979,628 shares of the stock were exchanged. The company’s 50 day moving average is $136.22 and its 200 day moving average is $126.24. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81. The stock has a market cap of $34.75 billion, a PE ratio of 38.98 and a beta of 1.14.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm posted $3.43 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post $4.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, July 6th. Intuit’s dividend payout ratio is currently 39.19%.
INTU has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Citigroup Inc. lowered shares of Intuit from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $148.00 to $141.00 in a research report on Monday, June 26th. Deutsche Bank AG increased their price objective on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Royal Bank Of Canada increased their price objective on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $135.63.
In other Intuit news, EVP Henry Tayloe Stansbury sold 3,742 shares of Intuit stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $137.92, for a total value of $516,096.64. Following the completion of the sale, the executive vice president now directly owns 4,580 shares in the company, valued at $631,673.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,265 shares of company stock worth $21,085,104. 5.70% of the stock is owned by insiders.
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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