Global X MANAGEMENT CO LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 47.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,793 shares of the software maker’s stock after acquiring an additional 4,440 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Intuit were worth $1,961,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exane Derivatives bought a new position in shares of Intuit during the 3rd quarter valued at approximately $105,000. Captrust Financial Advisors bought a new position in shares of Intuit during the 2nd quarter valued at approximately $108,000. Shine Investment Advisory Services Inc. bought a new position in shares of Intuit during the 2nd quarter valued at approximately $123,000. Harvest Fund Management Co. Ltd bought a new position in shares of Intuit during the 2nd quarter valued at approximately $140,000. Finally, ETF Managers Group LLC bought a new position in shares of Intuit during the 2nd quarter valued at approximately $140,000. Hedge funds and other institutional investors own 86.10% of the company’s stock.
A number of research analysts have recently commented on the company. UBS AG started coverage on Intuit in a research report on Thursday, November 9th. They set a “neutral” rating and a $152.00 target price for the company. First Analysis upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price target for the company in a research report on Wednesday, August 23rd. William Blair started coverage on Intuit in a research report on Tuesday, September 19th. They issued an “outperform” rating for the company. Wells Fargo & Company upgraded Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price target for the company in a research report on Thursday, September 21st. Finally, Bank of America Corporation restated a “buy” rating and issued a $145.00 price target on shares of Intuit in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $144.74.
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Shares of Intuit Inc. (NASDAQ:INTU) opened at $154.89 on Tuesday. Intuit Inc. has a 52 week low of $109.92 and a 52 week high of $155.37. The firm has a market capitalization of $39,087.44, a PE ratio of 40.66, a PEG ratio of 2.70 and a beta of 1.18. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The business had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. research analysts forecast that Intuit Inc. will post 4.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th were issued a dividend of $0.39 per share. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.01%. Intuit’s payout ratio is 41.94%.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $145.19, for a total value of $26,618,118.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total value of $257,108.60. Following the completion of the transaction, the executive vice president now directly owns 2,675 shares of the company’s stock, valued at $385,735. The disclosure for this sale can be found here. Insiders have sold 1,084,194 shares of company stock valued at $151,162,540 in the last ninety days. Corporate insiders own 5.70% 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 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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