Canada Pension Plan Investment Board Acquires 77,100 Shares of Intuit Inc. (INTU)
Canada Pension Plan Investment Board raised its position in Intuit Inc. (NASDAQ:INTU) by 30.3% during the second quarter, Holdings Channel reports. The institutional investor owned 331,217 shares of the software maker’s stock after buying an additional 77,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Intuit were worth $43,989,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Cigna Investments Inc. New raised its position in Intuit by 26.6% in the second quarter. Cigna Investments Inc. New now owns 12,892 shares of the software maker’s stock worth $1,712,000 after buying an additional 2,712 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Intuit during the second quarter worth about $123,000. Global X Management Co. LLC raised its position in Intuit by 52.6% in the second quarter. Global X Management Co. LLC now owns 9,353 shares of the software maker’s stock worth $1,242,000 after buying an additional 3,222 shares in the last quarter. Baxter Bros Inc. raised its position in Intuit by 0.4% in the second quarter. Baxter Bros Inc. now owns 86,727 shares of the software maker’s stock worth $11,518,000 after buying an additional 362 shares in the last quarter. Finally, Advisor Partners LLC raised its position in Intuit by 3.3% in the second quarter. Advisor Partners LLC now owns 5,202 shares of the software maker’s stock worth $691,000 after buying an additional 166 shares in the last quarter. 85.57% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 135.16 on Friday. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The stock has a market cap of $34.63 billion, a price-to-earnings ratio of 38.84 and a beta of 1.15. The company has a 50-day moving average of $135.14 and a 200 day moving average of $127.61.
Intuit (NASDAQ:INTU) last released 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 firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a return on equity of 80.88% and a net margin of 17.82%. Intuit’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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 disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, July 6th. Intuit’s payout ratio is 39.19%.
A number of equities analysts have issued reports on the stock. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Citigroup Inc. lowered shares of Intuit from a “buy” rating to a “neutral” rating and reduced their price target for the stock 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 target price for the company in a report on Monday, May 29th. Barclays PLC reaffirmed an “equal weight” rating on shares of Intuit in a report on Sunday, May 28th. Finally, CIBC lifted their target price on shares of Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Intuit has a consensus rating of “Buy” and a consensus target price of $135.63.
In other Intuit news, Director Dennis D. Powell sold 16,686 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $136.82, for a total value of $2,282,978.52. Following the completion of the transaction, the director now owns 4,554 shares in the company, valued at $623,078.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 3,742 shares of the stock in a transaction on Friday, May 26th. The stock was 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 approximately $631,673.60. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 in the last quarter. 5.70% of the stock is currently owned by company 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.
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.