Prudential PLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 66.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,822 shares of the software maker’s stock after purchasing an additional 1,922 shares during the period. Prudential PLC’s holdings in Intuit were worth $640,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Guardian Life Insurance Co. of America increased its holdings in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after purchasing an additional 5 shares during the period. FineMark National Bank & Trust increased its holdings in Intuit by 0.4% in the second quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock valued at $361,000 after purchasing an additional 11 shares during the period. Cue Financial Group Inc. increased its holdings in Intuit by 0.3% in the second quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock valued at $930,000 after purchasing an additional 20 shares during the period. Harbour Capital Advisors LLC increased its holdings in Intuit by 0.6% in the first quarter. Harbour Capital Advisors LLC now owns 4,061 shares of the software maker’s stock valued at $471,000 after purchasing an additional 25 shares during the period. Finally, Wetherby Asset Management Inc. increased its holdings in Intuit by 0.4% in the second quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock valued at $935,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.
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In other Intuit news, VP Mark J. Flournoy sold 1,868 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $142.31, for a total value of $265,835.08. Following the sale, the vice president now owns 1,713 shares in the company, valued at $243,777.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $144.20, for a total transaction of $257,108.60. Following the completion of the sale, the executive vice president now owns 2,675 shares in the company, valued at approximately $385,735. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,084,194 shares of company stock worth $151,162,540. Corporate insiders own 5.70% of the company’s stock.
A number of research firms recently weighed in on INTU. Argus began coverage on Intuit in a report on Wednesday, September 20th. They issued a “buy” rating and a $165.00 price objective for the company. Wells Fargo & Company upgraded Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price objective for the company in a report on Thursday, September 21st. UBS AG downgraded Intuit to an “underperform” rating in a report on Wednesday, September 27th. Raymond James Financial, Inc. downgraded Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. Finally, William Blair began coverage on Intuit in a report on Tuesday, September 19th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Intuit presently has a consensus rating of “Hold” and an average price target of $142.74.
Shares of Intuit Inc. (INTU) opened at 143.66 on Thursday. The firm has a market capitalization of $36.63 billion, a P/E ratio of 38.62 and a beta of 1.15. The stock has a 50 day moving average price of $142.07 and a 200 day moving average price of $133.79. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $146.72.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (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 company had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. Intuit’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts forecast that Intuit Inc. will post $4.95 EPS for the current year.
The business also recently declared 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. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.09%. This is a boost from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is currently 41.94%.
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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