Cadence Capital Management LLC Acquires 183 Shares of Intuit Inc. (INTU)
Cadence Capital Management LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 25,655 shares of the software maker’s stock after buying an additional 183 shares during the period. Cadence Capital Management LLC’s holdings in Intuit were worth $3,407,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Palisade Capital Management LLC NJ boosted its stake in shares of Intuit by 3.2% in the first quarter. Palisade Capital Management LLC NJ now owns 5,315 shares of the software maker’s stock worth $616,000 after buying an additional 165 shares during the period. DnB Asset Management AS boosted its stake in shares of Intuit by 21.5% in the first quarter. DnB Asset Management AS now owns 25,423 shares of the software maker’s stock worth $2,949,000 after buying an additional 4,500 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Intuit during the first quarter worth $224,000. State of Alaska Department of Revenue acquired a new stake in shares of Intuit during the first quarter worth $238,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Intuit by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,503 shares of the software maker’s stock worth $705,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 85.18% of the company’s stock.
Shares of Intuit Inc. (NASDAQ INTU) traded down 0.04% on Monday, reaching $134.05. 152,542 shares of the company were exchanged. The stock has a market capitalization of $34.35 billion, a price-to-earnings ratio of 38.52 and a beta of 1.15. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81. The firm’s 50 day moving average price is $135.05 and its 200 day moving average price is $128.38.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business posted $3.43 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post $4.39 EPS for the current year.
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A number of equities research analysts have weighed in on INTU shares. Barclays PLC cut their price objective on shares of Intuit from $129.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, April 24th. Benchmark Co. began coverage on shares of Intuit in a report on Thursday, April 27th. They set a “buy” rating and a $140.00 price target on the stock. Royal Bank Of Canada increased their price target on shares of Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. Stifel Nicolaus increased their price target on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. Finally, Deutsche Bank AG increased their price target on shares of Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. Intuit currently has a consensus rating of “Buy” and an average price target of $135.63.
In related news, 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 value of $2,203,602.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis D. Powell sold 16,686 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now owns 4,554 shares of the company’s stock, valued at $623,078.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,265 shares of company stock valued at $21,085,104. Company insiders own 5.70% of the company’s stock.
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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