Glenmede Trust Co. NA held its position in shares of Intuit Inc. (NASDAQ:INTU) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,848 shares of the software maker’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Intuit were worth $1,472,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. National Pension Service increased its position in shares of Intuit by 2.6% in the first quarter. National Pension Service now owns 200,470 shares of the software maker’s stock valued at $23,178,000 after buying an additional 5,096 shares during the period. Addenda Capital Inc. increased its position in shares of Intuit by 5.5% in the first quarter. Addenda Capital Inc. now owns 41,329 shares of the software maker’s stock valued at $4,793,000 after buying an additional 2,169 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Intuit by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 75,405 shares of the software maker’s stock valued at $8,746,000 after buying an additional 1,600 shares during the period. Forte Capital LLC ADV increased its position in shares of Intuit by 8.8% in the first quarter. Forte Capital LLC ADV now owns 28,808 shares of the software maker’s stock valued at $3,341,000 after buying an additional 2,340 shares during the period. Finally, Creative Planning increased its position in shares of Intuit by 8.5% in the first quarter. Creative Planning now owns 14,261 shares of the software maker’s stock valued at $1,654,000 after buying an additional 1,123 shares during the period. Hedge funds and other institutional investors own 85.29% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.90% during trading on Friday, hitting $135.64. The company’s stock had a trading volume of 979,628 shares. Intuit Inc. has a one year low of $103.22 and a one 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. The company has a 50-day moving average price of $136.01 and a 200-day moving average price of $126.38.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.03. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.43 earnings per share. Equities analysts predict that Intuit Inc. will post $4.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, July 6th. Intuit’s dividend payout ratio (DPR) is presently 39.19%.
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Several research firms have weighed in on INTU. Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and dropped their price target for the company from $148.00 to $141.00 in a research note on Monday, June 26th. Barclays PLC reiterated an “equal weight” rating on shares of Intuit in a research note on Sunday, May 28th. CIBC boosted their price target on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, May 26th. Zacks Investment Research upgraded Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Monday, May 29th. Finally, Stifel Nicolaus boosted their price target on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $135.63.
In related news, EVP Henry Tayloe Stansbury sold 3,742 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $137.92, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 over the last quarter. Insiders own 5.70% of the company’s stock.
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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