Bp Plc Continues to Hold Stake in Intuit Inc. (NASDAQ:INTU)
Bp Plc continued to hold its position in Intuit Inc. (NASDAQ:INTU) during the second quarter, Holdings Channel reports. The fund owned 30,000 shares of the software maker’s stock at the end of the second quarter. Bp Plc’s holdings in Intuit were worth $3,984,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Palisade Capital Management LLC NJ boosted its position in Intuit by 3.2% in the first quarter. Palisade Capital Management LLC NJ now owns 5,315 shares of the software maker’s stock valued at $616,000 after buying an additional 165 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in Intuit by 7.3% in the first quarter. Oliver Luxxe Assets LLC now owns 2,654 shares of the software maker’s stock valued at $308,000 after buying an additional 181 shares during the last quarter. Harvest Capital Management Inc boosted its position in Intuit by 3.1% in the first quarter. Harvest Capital Management Inc now owns 2,010 shares of the software maker’s stock valued at $233,000 after buying an additional 60 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Intuit during the first quarter valued at $522,000. Finally, Parametrica Management Ltd purchased a new position in Intuit during the first quarter valued at $580,000. Hedge funds and other institutional investors own 85.57% of the company’s stock.
Shares of Intuit Inc. (INTU) opened at 136.18 on Wednesday. The firm has a market cap of $34.89 billion, a price-to-earnings ratio of 39.13 and a beta of 1.15. The company has a 50 day moving average of $135.59 and a 200 day moving average of $127.04. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.87 by $0.03. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.43 earnings per share. On average, equities analysts forecast that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, July 6th. Intuit’s dividend payout ratio (DPR) is currently 39.19%.
Several research firms have weighed in on INTU. Citigroup Inc. cut shares of Intuit from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $148.00 to $141.00 in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Monday, May 29th. Barclays PLC reiterated an “equal weight” rating on shares of Intuit in a research report on Sunday, May 28th. CIBC lifted their price objective on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Intuit has an average rating of “Buy” and an average target price of $135.63.
In related news, EVP Henry Tayloe Stansbury sold 3,742 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $137.92, for a total value of $516,096.64. Following the completion of the transaction, the executive vice president now owns 4,580 shares of the company’s stock, valued at $631,673.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,265 shares of company stock valued at $21,085,104. 5.70% of the stock is owned by insiders.
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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