Commerzbank Aktiengesellschaft FI boosted its position in Intuit Inc. (NASDAQ:INTU) by 97.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,476 shares of the software maker’s stock after purchasing an additional 4,667 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Intuit were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Intuit by 2.7% in the second quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Intuit by 7.8% during the second quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after buying an additional 347,159 shares during the period. Janus Henderson Group PLC lifted its position in Intuit by 612.6% during the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after purchasing an additional 2,236,974 shares during the period. Royal Bank of Canada lifted its position in Intuit by 19.0% during the second quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock valued at $333,124,000 after purchasing an additional 400,406 shares during the period. Finally, Lindsell Train Ltd lifted its position in Intuit by 7.3% during the third quarter. Lindsell Train Ltd now owns 2,369,800 shares of the software maker’s stock valued at $336,843,000 after purchasing an additional 162,000 shares during the period. 86.28% of the stock is owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) opened at $156.19 on Thursday. Intuit Inc. has a 1-year low of $111.90 and a 1-year high of $158.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $39,490.24, a PE ratio of 41.30, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Tuesday, January 9th. Intuit’s dividend payout ratio is presently 41.38%.
In other news, CFO R Neil Williams sold 184,585 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the completion of the sale, the chief financial officer now directly owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. Insiders sold a total of 898,807 shares of company stock worth $132,768,878 in the last quarter. 5.59% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on the stock. First Analysis upgraded shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a research report on Wednesday, August 23rd. William Blair initiated coverage on shares of Intuit in a research report on Tuesday, September 19th. They set an “outperform” rating for the company. UBS cut shares of Intuit to an “underperform” rating in a report on Wednesday, September 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $148.00 price objective on shares of Intuit in a report on Tuesday, November 21st. Finally, Wells Fargo & Company raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price for the company in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Intuit has an average rating of “Hold” and a consensus price target of $152.89.
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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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