1,731 Shares in Intuit Inc. (INTU) Acquired by Buckingham Asset Management LLC
Buckingham Asset Management LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,731 shares of the software maker’s stock, valued at approximately $230,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in Intuit by 15.6% in the second quarter. Pacer Advisors Inc. now owns 8,517 shares of the software maker’s stock worth $1,131,000 after buying an additional 1,150 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Intuit by 0.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 489,757 shares of the software maker’s stock worth $65,045,000 after buying an additional 1,537 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Intuit by 16.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,596 shares of the software maker’s stock worth $7,649,000 after buying an additional 7,995 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Intuit by 13.0% in the second quarter. Penserra Capital Management LLC now owns 1,768 shares of the software maker’s stock valued at $234,000 after buying an additional 204 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Intuit by 2.1% in the second quarter. GHP Investment Advisors Inc. now owns 25,075 shares of the software maker’s stock valued at $3,330,000 after buying an additional 524 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ INTU) opened at 137.90 on Tuesday. The stock has a market capitalization of $35.44 billion, a P/E ratio of 37.07 and a beta of 1.15. The firm’s 50-day moving average price is $135.60 and its 200 day moving average price is $129.04. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The business had revenue of $842 million during the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. Analysts expect that Intuit Inc. will post $4.97 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, October 6th. Intuit’s dividend payout ratio (DPR) is currently 36.56%.
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Several research analysts have recently issued reports on the company. First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a research report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. increased their target price on Intuit from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Bank of America Corporation reissued a “buy” rating and issued a $145.00 target price on shares of Intuit in a research report on Wednesday, August 23rd. Royal Bank Of Canada reissued a “hold” rating and issued a $141.00 target price on shares of Intuit in a research report on Thursday, August 24th. Finally, Jefferies Group LLC assumed coverage on Intuit in a research report on Thursday, August 24th. They issued a “buy” rating and a $157.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $137.59.
In related news, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total transaction of $2,203,602.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Scott D. Cook sold 182,037 shares of Intuit stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $135.20, for a total transaction of $24,611,402.40. The disclosure for this sale can be found here. Insiders have sold a total of 521,057 shares of company stock worth $70,733,956 over the last quarter. 5.70% of the stock is owned by company insiders.
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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