Public Employees Retirement Association of Colorado lowered its position in Intuit Inc. (NASDAQ:INTU) by 11.6% during the second quarter, Holdings Channel reports. The firm owned 51,773 shares of the company’s stock after selling 6,773 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Intuit were worth $5,778,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its position in Intuit by 166.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 689,800 shares of the company’s stock worth $71,746,000 after buying an additional 430,600 shares during the last quarter. Strs Ohio boosted its position in Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock worth $63,371,000 after buying an additional 384,420 shares during the last quarter. Calamos Advisors LLC purchased a new position in Intuit during the second quarter worth $29,077,000. First Quadrant L P CA boosted its position in Intuit by 214,987.7% in the second quarter. First Quadrant L P CA now owns 245,200 shares of the company’s stock worth $27,367,000 after buying an additional 245,086 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Intuit by 13.0% in the first quarter. Wellington Management Group LLP now owns 1,205,266 shares of the company’s stock worth $125,360,000 after buying an additional 138,579 shares during the last quarter. 86.04% of the stock is owned by hedge funds and other institutional investors.
Intuit Inc. (NASDAQ:INTU) traded up 0.25% on Tuesday, hitting $107.15. 897,266 shares of the stock traded hands. Intuit Inc. has a 12-month low of $88.17 and a 12-month high of $116.97. The stock has a market cap of $27.64 billion, a P/E ratio of 29.01 and a beta of 1.10. The stock has a 50-day moving average price of $109.30 and a 200 day moving average price of $108.21.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The company earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. On average, equities analysts expect that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, October 5th. Intuit’s dividend payout ratio (DPR) is presently 36.17%.
A number of equities research analysts have recently issued reports on INTU shares. Citigroup Inc. restated a “buy” rating and issued a $128.00 target price on shares of Intuit in a research note on Wednesday, August 24th. RBC Capital Markets restated a “sector perform” rating and issued a $113.00 target price (up previously from $93.00) on shares of Intuit in a research note on Monday, August 15th. Royal Bank Of Canada cut their target price on shares of Intuit from $113.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Monday, August 15th. Vetr upgraded shares of Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 target price on the stock in a research note on Monday, July 18th. Finally, Wedbush restated an “outperform” rating and issued a $755.00 target price (up previously from $715.00) on shares of Intuit in a research note on Sunday, July 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Intuit presently has an average rating of “Buy” and a consensus target price of $194.34.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $109.19, for a total transaction of $204,294.49. Following the completion of the transaction, the executive vice president now directly owns 2,541 shares of the company’s stock, valued at approximately $277,451.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The disclosure for this sale can be found here. Insiders own 5.50% 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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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