Cohen Capital Management Inc. Holds Position in Intuit Inc. (INTU)
Cohen Capital Management Inc. continued to hold its stake in Intuit Inc. (NASDAQ:INTU) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,980 shares of the software maker’s stock at the end of the first quarter. Cohen Capital Management Inc.’s holdings in Intuit were worth $1,390,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of INTU. Sumitomo Mitsui Asset Management Company LTD increased its stake in Intuit by 746.5% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 367,125 shares of the software maker’s stock worth $40,387,000 after buying an additional 323,753 shares during the period. UMB Bank N A MO increased its stake in Intuit by 8.5% in the third quarter. UMB Bank N A MO now owns 123,452 shares of the software maker’s stock worth $13,581,000 after buying an additional 9,643 shares during the period. Rothschild Asset Management Inc. acquired a new stake in Intuit during the third quarter worth about $1,921,000. Stanley Laman Group Ltd. acquired a new stake in Intuit during the third quarter worth about $194,000. Finally, DnB Asset Management AS increased its stake in Intuit by 2.6% in the third quarter. DnB Asset Management AS now owns 19,923 shares of the software maker’s stock worth $2,192,000 after buying an additional 500 shares during the period. Institutional investors own 85.77% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded up 0.60% during trading on Tuesday, reaching $119.35. 1,719,169 shares of the company’s stock were exchanged. Intuit Inc. has a 12 month low of $99.20 and a 12 month high of $128.45. The firm has a market cap of $30.53 billion, a price-to-earnings ratio of 32.05 and a beta of 1.06. The firm’s 50-day moving average price is $121.27 and its 200-day moving average price is $115.97.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 23rd. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business earned $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. Intuit had a return on equity of 82.77% and a net margin of 20.59%. Intuit’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts anticipate that Intuit Inc. will post $4.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 18th. Investors of record on Monday, April 10th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, April 6th. Intuit’s payout ratio is currently 36.27%.
Several research firms recently weighed in on INTU. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $127.00 target price (up from $124.00) on shares of Intuit in a research note on Monday, February 27th. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $111.00 target price (up from $108.00) on shares of Intuit in a research note on Friday, February 24th. Credit Suisse Group AG raised shares of Intuit from a “neutral” rating to an “outperform” rating and raised their target price for the company from $109.00 to $140.00 in a research note on Friday, February 24th. Finally, Brean Capital reissued a “buy” rating and issued a $135.00 target price on shares of Intuit in a research note on Wednesday, December 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. Intuit currently has an average rating of “Buy” and an average target price of $214.04.
In related news, VP Mark J. Flournoy sold 8,651 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $125.24, for a total value of $1,083,451.24. Following the completion of the sale, the vice president now directly owns 787 shares of the company’s stock, valued at approximately $98,563.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brad D. Smith sold 103,445 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $126.09, for a total value of $13,043,380.05. Following the completion of the sale, the chief executive officer now directly owns 311,733 shares of the company’s stock, valued at $39,306,413.97. The disclosure for this sale can be found here. Insiders sold a total of 117,709 shares of company stock valued at $14,817,623 over the last three months. 5.70% of the stock is currently owned by insiders.
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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