Glynn Capital Management LLC held its stake in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, Holdings Channel reports. The fund owned 5,000 shares of the company’s stock at the end of the second quarter. Glynn Capital Management LLC’s holdings in Intuit were worth $558,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Alpha Windward LLC increased its position in shares of Intuit by 2,340.6% in the second quarter. Alpha Windward LLC now owns 1,562 shares of the company’s stock valued at $174,000 after buying an additional 1,498 shares during the last quarter. Telemus Capital LLC purchased a new position in shares of Intuit during the second quarter valued at approximately $201,000. Cape Cod Five Cents Savings Bank purchased a new position in shares of Intuit during the second quarter valued at approximately $212,000. Emerald Mutual Fund Advisers Trust increased its position in shares of Intuit by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,093 shares of the company’s stock valued at $234,000 after buying an additional 51 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Intuit by 2.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the company’s stock valued at $300,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.10% during trading on Monday, reaching $106.88. 740,864 shares of the company were exchanged. Intuit Inc. has a 1-year low of $88.17 and a 1-year high of $116.97. The firm’s 50 day moving average is $109.40 and its 200 day moving average is $108.19. The firm has a market capitalization of $27.57 billion, a P/E ratio of 28.94 and a beta of 1.10.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The firm earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be issued a dividend of $0.34 per share. This is an increase from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.27%. Intuit’s payout ratio is 36.17%.
Several brokerages recently commented on INTU. Brean Capital lifted their target price on shares of Intuit from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, August 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $750.00 target price on shares of Intuit in a research note on Friday, July 22nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $125.00 target price (down from $130.00) on shares of Intuit in a research note on Wednesday, August 24th. Barclays PLC downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $110.00 to $116.00 in a research note on Friday, July 15th. Finally, Goldman Sachs Group Inc. lifted their target price on shares of Intuit from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, August 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Intuit has an average rating of “Buy” and an average price target of $194.34.
In other Intuit news, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $109.19, for a total value of $204,294.49. Following the sale, the executive vice president now owns 2,541 shares in the company, valued at approximately $277,451.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sasan K. Goodarzi sold 18,567 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $109.78, for a total value of $2,038,285.26. Following the completion of the sale, the executive vice president now owns 1,492 shares in the company, valued at approximately $163,791.76. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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