Intuit Inc. (INTU) Shares Bought by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172,310 shares of the software maker’s stock after buying an additional 832 shares during the period. Great West Life Assurance Co. Can owned 0.07% of Intuit worth $22,857,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in shares of Intuit by 5.7% in the second quarter. Janney Montgomery Scott LLC now owns 27,137 shares of the software maker’s stock worth $3,604,000 after buying an additional 1,460 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of Intuit by 21,749.4% in the second quarter. Harbour Capital Advisors LLC now owns 887,304 shares of the software maker’s stock worth $6,681,000 after buying an additional 883,243 shares during the period. IBM Retirement Fund boosted its position in shares of Intuit by 119.6% in the second quarter. IBM Retirement Fund now owns 5,972 shares of the software maker’s stock worth $885,000 after buying an additional 3,253 shares during the period. NGAM Advisors L.P. boosted its position in shares of Intuit by 2.7% in the second quarter. NGAM Advisors L.P. now owns 38,056 shares of the software maker’s stock worth $5,054,000 after buying an additional 1,015 shares during the period. Finally, FineMark National Bank & Trust boosted its position in shares of Intuit by 0.4% in the second quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock worth $361,000 after buying an additional 11 shares during the period. 85.39% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 136.90 on Friday. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81. The firm’s 50-day moving average is $135.86 and its 200-day moving average is $126.82. The company has a market capitalization of $35.08 billion, a price-to-earnings ratio of 39.34 and a beta of 1.15.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.87 by $0.03. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.43 earnings per share. Analysts forecast that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, July 6th. Intuit’s payout ratio is 39.19%.
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A number of brokerages recently issued reports on INTU. BidaskClub cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Citigroup Inc. cut shares of Intuit from a “buy” rating to a “neutral” rating and lowered their price target for the company from $148.00 to $141.00 in a research report on Monday, June 26th. Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Monday, May 29th. Barclays PLC reissued an “equal weight” rating on shares of Intuit in a research report on Sunday, May 28th. Finally, CIBC lifted their price target on shares of Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Intuit currently has a consensus rating of “Buy” and an average target price of $135.63.
In other news, EVP Laura A. Fennell sold 74,052 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $139.46, for a total transaction of $10,327,291.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dennis D. Powell sold 16,686 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $136.82, for a total transaction of $2,282,978.52. Following the transaction, the director now owns 4,554 shares in the company, valued at approximately $623,078.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,265 shares of company stock valued at $21,085,104. Insiders own 5.70% of the company’s stock.
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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