State Board of Administration of Florida Retirement System Acquires 2,043 Shares of Intuit Inc. (INTU)
State Board of Administration of Florida Retirement System raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,553 shares of the software maker’s stock after buying an additional 2,043 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Intuit worth $49,612,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of INTU. Guardian Life Insurance Co. of America raised its stake in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after buying an additional 5 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Intuit during the second quarter valued at $123,000. Johnson Financial Group Inc. raised its stake in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after buying an additional 59 shares during the period. Miller Howard Investments Inc. NY acquired a new stake in shares of Intuit during the first quarter valued at $205,000. Finally, Lincoln National Corp acquired a new stake in shares of Intuit during the first quarter valued at $205,000. Institutional investors and hedge funds own 85.18% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 134.11 on Monday. The company has a market cap of $34.36 billion, a P/E ratio of 38.54 and a beta of 1.15. The firm has a 50-day moving average of $135.05 and a 200 day moving average of $128.38. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, beating the Zacks’ 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%. Intuit’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.43 EPS. Equities analysts anticipate that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.
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INTU has been the topic of a number of recent analyst reports. CIBC boosted 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. Barclays PLC reduced their price target on shares of Intuit from $129.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, April 24th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Monday, May 29th. Credit Suisse Group boosted their price target on shares of Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $141.00 price target (up from $125.00) on shares of Intuit in a research report on Thursday, May 25th. One research 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. The company has a consensus rating of “Buy” and an average target price of $135.63.
In other Intuit news, EVP Henry Tayloe Stansbury sold 39,230 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $140.25, for a total transaction of $5,502,007.50. Following the completion of the sale, the executive vice president now owns 40,068 shares in the company, valued at approximately $5,619,537. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the business’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. Insiders have sold a total of 151,265 shares of company stock valued at $21,085,104 in the last 90 days. 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.
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