Qube Research & Technologies Ltd Raises Holdings in Intuit Inc. (INTU)
Qube Research & Technologies Ltd grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 160.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 606 shares of the software maker’s stock after purchasing an additional 373 shares during the period. Qube Research & Technologies Ltd’s holdings in Intuit were worth $124,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Fort L.P. acquired a new stake in shares of Intuit in the 2nd quarter worth about $120,000. Sun Life Financial INC increased its holdings in shares of Intuit by 243.8% in the 2nd quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock worth $135,000 after acquiring an additional 468 shares during the period. Resources Investment Advisors Inc. increased its holdings in shares of Intuit by 158.9% in the 1st quarter. Resources Investment Advisors Inc. now owns 906 shares of the software maker’s stock worth $174,000 after acquiring an additional 556 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Intuit in the 2nd quarter worth about $176,000. Finally, NewSquare Capital LLC acquired a new stake in shares of Intuit in the 2nd quarter worth about $185,000. 87.00% of the stock is currently owned by institutional investors.
In other news, VP Mark J. Flournoy sold 9,292 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $218.90, for a total transaction of $2,034,018.80. Following the completion of the transaction, the vice president now owns 2,471 shares in the company, valued at approximately $540,901.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Henry Tayloe Stansbury sold 3,941 shares of the firm’s stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $202.21, for a total transaction of $796,909.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 522,526 shares of company stock valued at $115,713,138. Insiders own 5.59% of the company’s stock.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. The firm had revenue of $988.00 million during the quarter, compared to analyst estimates of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. Intuit’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. equities research analysts expect that Intuit Inc. will post 5.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Wednesday, October 10th will be given a dividend of $0.47 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, October 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.82%. Intuit’s dividend payout ratio (DPR) is 34.44%.
A number of research firms recently weighed in on INTU. BidaskClub cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Stifel Nicolaus raised shares of Intuit from a “hold” rating to a “buy” rating and increased their price objective for the stock from $197.00 to $240.00 in a report on Monday, June 18th. Oppenheimer increased their price objective on shares of Intuit from $181.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, May 23rd. Wells Fargo & Co set a $215.00 price objective on shares of Intuit and gave the stock an “outperform” rating in a report on Wednesday, May 23rd. Finally, First Analysis lowered shares of Intuit from an “equal” rating to a “sell” rating and increased their target price for the company from $143.00 to $160.00 in a research report on Wednesday, May 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $216.94.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
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