Vident Investment Advisory LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,644 shares of the software maker’s stock, valued at approximately $376,000.
Several other institutional investors and hedge funds also recently bought and sold shares of INTU. Janus Henderson Group PLC boosted its stake in shares of Intuit by 612.6% during the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after acquiring an additional 2,236,974 shares during the last quarter. Koch Industries Inc. boosted its stake in shares of Intuit by 38,665.6% during the second quarter. Koch Industries Inc. now owns 1,438,591 shares of the software maker’s stock valued at $1,428,000 after acquiring an additional 1,434,880 shares during the last quarter. Fundsmith LLP acquired a new stake in shares of Intuit during the second quarter valued at $144,464,000. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Intuit during the second quarter valued at $136,099,000. Finally, Jensen Investment Management Inc. acquired a new stake in shares of Intuit during the third quarter valued at $112,811,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on INTU. Morgan Stanley increased their price objective on Intuit from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, November 21st. Oppenheimer reissued a “buy” rating and issued a $166.00 price target (up from $159.00) on shares of Intuit in a research note on Tuesday, November 21st. First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price target on the stock in a research note on Wednesday, August 23rd. Royal Bank of Canada reissued a “hold” rating and issued a $141.00 price target on shares of Intuit in a research note on Thursday, August 24th. Finally, Wells Fargo & Company raised Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price target on the stock in a research note on Thursday, September 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $152.89.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. The company had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. equities research analysts anticipate that Intuit Inc. will post 3.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.97%. Intuit’s dividend payout ratio (DPR) is 41.38%.
In related news, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $155.03, for a total transaction of $28,422,114.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark J. Flournoy sold 13,424 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $155.56, for a total value of $2,088,237.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 879,480 shares of company stock worth $132,586,537. Company insiders own 5.59% of the company’s stock.
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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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