Acadian Asset Management LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,776 shares of the software maker’s stock after selling 52,104 shares during the quarter. Acadian Asset Management LLC’s holdings in Intuit were worth $26,157,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oakbrook Investments LLC grew its stake in shares of Intuit by 118.1% during the third quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock valued at $3,045,000 after buying an additional 11,600 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Intuit by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock valued at $53,363,000 after buying an additional 1,870 shares during the last quarter. Asset Advisors Corp grew its stake in shares of Intuit by 2.5% during the third quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock valued at $13,157,000 after buying an additional 2,300 shares during the last quarter. IFM Investors Pty Ltd bought a new position in shares of Intuit during the third quarter valued at approximately $959,000. Finally, Atlanta Capital Management Co. L L C grew its stake in Intuit by 142.3% in the third quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock worth $71,764,000 after purchasing an additional 296,481 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.
INTU has been the topic of several research analyst reports. UBS Group initiated coverage on Intuit in a research note on Thursday, November 9th. They issued a “neutral” rating and a $152.00 price objective on the stock. Barclays increased their price objective on Intuit from $135.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 15th. Credit Suisse Group reissued an “outperform” rating and issued a $185.00 price objective (up previously from $170.00) on shares of Intuit in a research note on Tuesday, January 9th. Oppenheimer increased their price objective on Intuit from $146.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research cut Intuit from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $157.53.
Intuit (NASDAQ:INTU) last issued its earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.30. The company had revenue of $886.00 million during the quarter, compared to analyst estimates of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. analysts forecast that Intuit Inc. will post 3.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Wednesday, January 10th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a yield of 0.93%. Intuit’s dividend payout ratio (DPR) is 41.38%.
In related news, Chairman Scott D. Cook sold 184,733 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $158.98, for a total value of $29,368,852.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $151.35, for a total value of $326,613.30. Following the completion of the transaction, the executive vice president now owns 3,050 shares of the company’s stock, valued at approximately $461,617.50. The disclosure for this sale can be found here. Insiders sold a total of 965,938 shares of company stock valued at $149,469,127 in the last 90 days. 5.59% of the stock is currently owned by company insiders.
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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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