UBS Asset Management Americas Inc. Has $108.68 Million Holdings in Intuit Inc. (INTU)

UBS Asset Management Americas Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 818,343 shares of the software maker’s stock after purchasing an additional 45,333 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.32% of Intuit worth $108,684,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Intuit by 29.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,025 shares of the software maker’s stock worth $2,091,000 after buying an additional 4,047 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Intuit by 50.2% in the 1st quarter. Toronto Dominion Bank now owns 71,840 shares of the software maker’s stock worth $8,334,000 after buying an additional 24,019 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of Intuit by 39.8% in the 1st quarter. Virginia Retirement Systems ET AL now owns 119,000 shares of the software maker’s stock worth $13,803,000 after buying an additional 33,900 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Intuit by 21.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 32,915 shares of the software maker’s stock worth $3,818,000 after buying an additional 5,744 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in shares of Intuit by 8.3% in the 1st quarter. State of Wisconsin Investment Board now owns 163,996 shares of the software maker’s stock worth $19,022,000 after buying an additional 12,589 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

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A number of equities analysts have recently weighed in on INTU shares. 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 research note on Monday, August 28th. Citigroup Inc. boosted their target price on Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Deutsche Bank AG boosted their target price on Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Bank of America Corporation boosted their target price on Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Credit Suisse Group boosted their target price on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $141.61.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 18.76% and a return on equity of 82.43%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is currently 36.56%.

In other news, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction on Monday, September 11th. The shares were sold at an average price of $142.31, for a total transaction of $265,835.08. Following the transaction, the vice president now owns 1,713 shares in the company, valued at approximately $243,777.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. Insiders have sold a total of 872,901 shares of company stock worth $120,440,104 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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