Retirement Systems of Alabama lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,155 shares of the software maker’s stock after selling 870 shares during the period. Retirement Systems of Alabama owned about 0.06% of Intuit worth $22,054,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Capital One National Association grew its holdings in shares of Intuit by 29.1% during the 2nd quarter. Capital One National Association now owns 2,616 shares of the software maker’s stock worth $347,000 after acquiring an additional 589 shares during the period. Atria Investments LLC purchased a new position in shares of Intuit during the 2nd quarter worth approximately $284,000. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Intuit by 518.2% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 40,202 shares of the software maker’s stock worth $5,339,000 after acquiring an additional 33,699 shares during the period. Eqis Capital Management Inc. grew its holdings in shares of Intuit by 5.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 3,164 shares of the software maker’s stock worth $420,000 after acquiring an additional 169 shares during the period. Finally, OLD National Bancorp IN purchased a new position in shares of Intuit during the 2nd quarter worth approximately $1,176,000. Institutional investors own 86.10% of the company’s stock.
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In other Intuit news, EVP Sasan K. Goodarzi sold 98,901 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $135.22, for a total transaction of $13,373,393.22. Following the completion of the sale, the executive vice president now directly owns 7,801 shares in the company, valued at approximately $1,054,851.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Mark J. Flournoy sold 1,868 shares of the business’s 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 sale, the vice president now owns 1,713 shares of the company’s stock, valued at $243,777.03. The disclosure for this sale can be found here. Insiders sold a total of 1,084,194 shares of company stock worth $151,162,540 over the last ninety days. 5.70% of the stock is currently owned by insiders.
Intuit Inc. (INTU) opened at $154.02 on Tuesday. The stock has a market capitalization of $39,087.44, a P/E ratio of 40.66, a P/E/G ratio of 2.70 and a beta of 1.18. Intuit Inc. has a 12-month low of $109.92 and a 12-month high of $155.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.73 and a quick ratio of 0.73.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the 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 return on equity of 82.43% and a net margin of 18.76%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. equities analysts anticipate that Intuit Inc. will post 4.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th were given a $0.39 dividend. The ex-dividend date was Friday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.01%. Intuit’s dividend payout ratio is 41.94%.
A number of research analysts have weighed in on the company. UBS AG assumed coverage on Intuit in a report on Thursday, November 9th. They set a “neutral” rating and a $152.00 target price on the stock. Oppenheimer Holdings, Inc. upped their target price on Intuit from $146.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Stifel Nicolaus reiterated a “hold” rating and set a $132.00 target price on shares of Intuit in a report on Friday, October 6th. Finally, Raymond James Financial, Inc. downgraded Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $144.74.
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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