Nomura Asset Management Co. Ltd. Has $4.28 Million Position in Intuit Inc. (INTU)
Nomura Asset Management Co. Ltd. increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,921 shares of the software maker’s stock after buying an additional 96 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Intuit were worth $4,282,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of INTU. BlackRock Inc. increased its position in shares of Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock valued at $2,014,036,000 after buying an additional 16,306,976 shares in the last quarter. Morgan Stanley increased its position in shares of Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock valued at $403,505,000 after buying an additional 966,936 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Intuit by 249.1% in the first quarter. Renaissance Technologies LLC now owns 1,296,148 shares of the software maker’s stock valued at $150,340,000 after buying an additional 924,900 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of Intuit during the first quarter valued at about $99,589,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Intuit during the first quarter valued at about $99,589,000. Institutional investors own 85.23% of the company’s stock.
Intuit Inc. (INTU) traded up 0.13% on Friday, hitting $135.53. The company’s stock had a trading volume of 361,477 shares. The company has a 50 day moving average price of $137.03 and a 200-day moving average price of $125.57. The company has a market capitalization of $34.72 billion, a P/E ratio of 38.95 and a beta of 1.14. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.87 by $0.03. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company 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 company 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 annualized dividend and a dividend yield of 1.00%. Intuit’s dividend payout ratio is currently 39.19%.
Several brokerages have recently issued reports on INTU. Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $148.00 to $141.00 in a research report on Monday, June 26th. Barclays PLC reiterated an “equal weight” rating on shares of Intuit in a research report on Sunday, May 28th. CIBC boosted their price objective on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Monday, May 29th. Finally, Stifel Nicolaus boosted their target price on Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $204.17.
In related news, EVP Henry Tayloe Stansbury sold 3,742 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $137.92, for a total transaction of $516,096.64. Following the completion of the transaction, the executive vice president now owns 4,580 shares in the company, valued at $631,673.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dennis D. Powell sold 16,686 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $136.82, for a total transaction of $2,282,978.52. Following the transaction, the director now owns 4,554 shares of the company’s stock, valued at approximately $623,078.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 151,265 shares of company stock valued at $21,085,104. 5.70% of the stock is currently owned by corporate 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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.