Intuit Inc. (INTU) Shares Bought by Investec Asset Management LTD
Investec Asset Management LTD lifted its position in Intuit Inc. (NASDAQ:INTU) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 704,364 shares of the software maker’s stock after buying an additional 102,836 shares during the quarter. Investec Asset Management LTD owned approximately 0.27% of Intuit worth $93,547,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. QUANTRES ASSET MANAGEMENT Ltd raised its holdings in shares of Intuit by 2,125.0% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock valued at $5,162,000 after buying an additional 42,500 shares during the period. Guardian Life Insurance Co. of America raised its holdings in shares of Intuit by 0.5% in the 1st 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. State Treasurer State of Michigan raised its holdings in shares of Intuit by 0.3% in the 2nd quarter. State Treasurer State of Michigan now owns 79,984 shares of the software maker’s stock valued at $10,623,000 after buying an additional 200 shares during the period. Comgest Global Investors S.A.S. raised its holdings in shares of Intuit by 2.4% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock valued at $58,433,000 after buying an additional 10,400 shares during the period. Finally, Eqis Capital Management Inc. raised its holdings in shares of Intuit by 5.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 3,164 shares of the software maker’s stock valued at $420,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.
Intuit Inc. (INTU) traded up 0.04% on Friday, hitting $142.13. The stock had a trading volume of 1,423,535 shares. The stock has a market cap of $36.24 billion, a P/E ratio of 38.21 and a beta of 1.15. The company’s 50-day moving average is $138.38 and its 200-day moving average is $131.17. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.10%. Intuit’s dividend payout ratio (DPR) is currently 36.56%.
In other news, VP Mark J. Flournoy sold 1,868 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $142.31, for a total transaction of $265,835.08. Following the completion of the sale, the vice president now directly owns 1,713 shares in the company, valued at $243,777.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction dated 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 have sold 888,585 shares of company stock valued at $122,643,706 over the last 90 days. Insiders own 5.70% of the company’s stock.
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Several equities research analysts recently issued reports on INTU shares. Stifel Nicolaus boosted their price objective on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. First Analysis upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective on the stock in a report on Wednesday, August 23rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $141.00 price objective on shares of Intuit in a report on Thursday, August 24th. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Monday, August 28th. Finally, Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and cut their price objective for the company from $148.00 to $141.00 in a report on Monday, June 26th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $140.24.
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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