Standard Life Investments LTD lowered its position in Intuit Inc. (NASDAQ:INTU) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,278 shares of the company’s stock after selling 1,568 shares during the period. Standard Life Investments LTD’s holdings in Intuit were worth $9,297,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its position in shares of 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 in the last quarter. Strs Ohio raised its position in shares of 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 in the last quarter. Calamos Advisors LLC acquired a new position in shares of Intuit during the second quarter worth $29,077,000. First Quadrant L P CA raised its position in shares of 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 in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 1.28% on Friday, reaching $107.45. 1,524,274 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $110.15 and a 200 day moving average price of $107.94. The firm has a market cap of $27.72 billion, a PE ratio of 29.10 and a beta of 1.10. Intuit Inc. has a one year low of $88.17 and a one year high of $116.97.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 80.75% and a net margin of 20.86%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. Analysts expect that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This is an increase from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.27%. Intuit’s payout ratio is 36.17%.
A number of equities analysts have weighed in on INTU shares. Citigroup Inc. reiterated a “buy” rating and set a $128.00 target price on shares of Intuit in a research report on Wednesday, August 24th. RBC Capital Markets reiterated a “sector perform” rating and set a $113.00 target price (up previously from $93.00) on shares of Intuit in a research report on Monday, August 15th. Royal Bank Of Canada lowered their price target on shares of Intuit from $113.00 to $93.00 and set a “sector perform” rating on the stock in a report on Monday, August 15th. Vetr raised shares of Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price target on the stock in a report on Monday, July 18th. Finally, Wedbush reissued an “outperform” rating and issued a $755.00 price target (up from $715.00) on shares of Intuit in a report on Sunday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $194.34.
In related news, EVP Sasan K. Goodarzi sold 7,350 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO R Neil Williams sold 6,636 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.06, for a total value of $730,358.16. Following the transaction, the chief financial officer now owns 4,727 shares of the company’s stock, valued at $520,253.62. The disclosure for this sale can be found here. Corporate 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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