Public Sector Pension investment Board cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 49.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,712 shares of the software maker’s stock after selling 27,600 shares during the period. Public Sector Pension investment Board’s holdings in Intuit were worth $3,680,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Comgest Global Investors S.A.S. raised its stake in Intuit by 2.4% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock valued at $58,433,000 after acquiring an additional 10,400 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Intuit by 218.4% during the 2nd quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock worth $30,483,000 after buying an additional 157,101 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd raised its stake in shares of Intuit by 2,125.0% during the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock worth $5,162,000 after buying an additional 42,500 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake 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 buying an additional 5 shares in the last quarter. Finally, State Treasurer State of Michigan raised its stake in shares of Intuit by 0.3% during the 2nd quarter. State Treasurer State of Michigan now owns 79,984 shares of the software maker’s stock worth $10,623,000 after buying an additional 200 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.
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Intuit Inc. (NASDAQ:INTU) traded down 0.12% during mid-day trading on Friday, reaching $142.14. 2,566,365 shares of the company were exchanged. The company’s 50 day moving average price is $138.84 and its 200-day moving average price is $131.54. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of 38.21 and a beta of 1.15. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $146.72.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the 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 firm had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same period last year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is presently 36.56%.
In related news, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $135.22, for a total transaction of $24,790,423.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 28,048 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $146.19, for a total transaction of $4,100,337.12. Following the transaction, the executive vice president now owns 28,940 shares of the company’s stock, valued at approximately $4,230,738.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,084,194 shares of company stock worth $151,162,540 in the last quarter. 5.70% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on the company. First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a research note on Wednesday, August 23rd. UBS AG cut Intuit to an “underperform” rating in a report on Wednesday. William Blair assumed coverage on Intuit in a report on Tuesday, September 19th. They issued an “outperform” rating on the stock. Wells Fargo & Company upgraded Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a report on Thursday, September 21st. Finally, Argus assumed coverage on Intuit in a report on Wednesday, September 20th. They set a “buy” rating and a $165.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $142.74.
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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