Capstone Asset Management Co. Has $2.71 Million Stake in Intuit Inc. (NASDAQ:INTU)
Capstone Asset Management Co. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,423 shares of the software maker’s stock after selling 876 shares during the period. Capstone Asset Management Co.’s holdings in Intuit were worth $2,712,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in INTU. Capital One National Association boosted its position in shares of Intuit by 29.1% in the second quarter. Capital One National Association now owns 2,616 shares of the software maker’s stock valued at $347,000 after buying an additional 589 shares during the last quarter. Fox Run Management L.L.C. boosted its position in shares of Intuit by 44.4% in the second quarter. Fox Run Management L.L.C. now owns 6,500 shares of the software maker’s stock valued at $863,000 after buying an additional 2,000 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Intuit by 0.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 36,921 shares of the software maker’s stock valued at $4,282,000 after buying an additional 96 shares during the last quarter. Columbia Partners L L C Investment Management boosted its position in shares of Intuit by 4.4% in the first quarter. Columbia Partners L L C Investment Management now owns 12,326 shares of the software maker’s stock valued at $1,429,000 after buying an additional 518 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its position in shares of Intuit by 5,558.2% in the first quarter. Sowell Financial Services LLC now owns 3,791 shares of the software maker’s stock valued at $523,000 after buying an additional 3,724 shares during the last quarter. Hedge funds and other institutional investors own 85.57% of the company’s stock.
Shares of Intuit Inc. (INTU) traded down 0.34% on Tuesday, hitting $136.18. The stock had a trading volume of 746,735 shares. The stock has a 50 day moving average of $135.59 and a 200-day moving average of $127.04. The stock has a market cap of $34.89 billion, a PE ratio of 39.13 and a beta of 1.15. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $143.81.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.87 by $0.03. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business posted $3.43 EPS. Equities research analysts anticipate that Intuit Inc. will post $4.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were paid 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 (DPR) is currently 39.19%.
Several research analysts recently issued reports on INTU shares. Barclays PLC cut their target price on Intuit from $129.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, April 24th. Benchmark Co. started coverage on Intuit in a research report on Thursday, April 27th. They set a “buy” rating and a $140.00 target price on the stock. Royal Bank Of Canada lifted their target price on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 24th. Stifel Nicolaus lifted their target price on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, May 24th. Finally, Deutsche Bank AG lifted their target price on Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Intuit presently has an average rating of “Buy” and an average price target of $135.63.
In related news, EVP Laura A. Fennell sold 74,052 shares of Intuit stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total transaction of $10,327,291.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,265 shares of company stock worth $21,085,104. Company insiders own 5.70% of the company’s stock.
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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