BT Investment Management Ltd bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 699,276 shares of the software maker’s stock, valued at approximately $92,871,000. Intuit accounts for 1.3% of BT Investment Management Ltd’s portfolio, making the stock its 23rd largest position. BT Investment Management Ltd owned about 0.27% of Intuit at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of INTU. Captrust Financial Advisors purchased a new position in shares of Intuit during the 2nd quarter worth approximately $108,000. Guardian Life Insurance Co. of America grew its holdings in shares of Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after acquiring an additional 5 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in shares of Intuit during the 2nd quarter worth approximately $123,000. Johnson Financial Group Inc. grew its holdings in shares of Intuit by 5.8% during the 1st quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after acquiring an additional 59 shares during the period. Finally, Lincoln National Corp purchased a new position in shares of Intuit during the 1st quarter worth approximately $205,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.
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In other Intuit news, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sasan K. Goodarzi sold 16,207 shares of Intuit stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.41, for a total transaction of $2,291,831.87. Following the completion of the transaction, the executive vice president now directly owns 5,785 shares in the company, valued at $818,056.85. The disclosure for this sale can be found here. Insiders sold 888,585 shares of company stock worth $122,643,706 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.
INTU has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, May 24th. First Analysis upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price on the stock in a report on Wednesday, August 23rd. Royal Bank Of Canada reiterated a “hold” rating and set a $141.00 target price on shares of Intuit in a report on Thursday, August 24th. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Monday, August 28th. Finally, Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $148.00 to $141.00 in a report on Monday, June 26th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Intuit presently has a consensus rating of “Buy” and a consensus price target of $140.24.
Intuit Inc. (INTU) traded down 0.20% during trading on Friday, reaching $141.79. The company had a trading volume of 519,397 shares. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81. The stock has a market capitalization of $36.15 billion, a P/E ratio of 38.12 and a beta of 1.15. The stock has a 50 day moving average of $138.23 and a 200-day moving average of $131.06.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same period in the previous year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be issued a $0.39 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s payout ratio is currently 36.56%.
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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