Intuit Inc. (INTU) Position Decreased by Arizona State Retirement System
Arizona State Retirement System lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 65,090 shares of the software maker’s stock after selling 400 shares during the period. Arizona State Retirement System’s holdings in Intuit were worth $8,645,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Creative Planning boosted its position in Intuit by 8.5% in the first quarter. Creative Planning now owns 14,261 shares of the software maker’s stock valued at $1,654,000 after buying an additional 1,123 shares during the period. National Pension Service boosted its stake in Intuit by 2.6% in the first quarter. National Pension Service now owns 200,470 shares of the software maker’s stock valued at $23,178,000 after buying an additional 5,096 shares during the last quarter. Alpha Windward LLC boosted its stake in Intuit by 1.1% in the first quarter. Alpha Windward LLC now owns 2,287 shares of the software maker’s stock valued at $265,000 after buying an additional 25 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Intuit during the first quarter valued at approximately $580,000. Finally, Fox Run Management L.L.C. purchased a new stake in Intuit during the first quarter valued at approximately $522,000. Institutional investors and hedge funds own 85.57% of the company’s stock.
Shares of Intuit Inc. (INTU) opened at 136.60 on Friday. The stock’s 50 day moving average price is $135.04 and its 200-day moving average price is $127.75. The company has a market cap of $35.00 billion, a PE ratio of 39.25 and a beta of 1.15. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company earned $3.43 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that Intuit Inc. will post $4.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. Intuit’s dividend payout ratio is presently 39.19%.
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Several equities research analysts have commented on INTU shares. BidaskClub cut Intuit from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Barclays PLC restated a “hold” rating and issued a $130.00 target price on shares of Intuit in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $141.00 target price (up previously from $125.00) on shares of Intuit in a research note on Thursday, May 25th. Zacks Investment Research upgraded Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Monday, May 29th. Finally, Benchmark Co. started coverage on Intuit in a research note on Thursday, April 27th. They issued a “buy” rating and a $140.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Intuit presently has an average rating of “Buy” and a consensus target price of $135.63.
In other news, EVP Laura A. Fennell sold 74,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total value of $10,327,291.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock worth $21,085,104 in the last 90 days. Corporate 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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