Intuit Inc. (INTU) Position Cut by Pacad Investment Ltd.
Pacad Investment Ltd. reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 89.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the software maker’s stock after selling 86,371 shares during the period. Pacad Investment Ltd.’s holdings in Intuit were worth $1,395,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in INTU. Shine Investment Advisory Services Inc. bought a new stake in shares of Intuit during the second quarter worth $123,000. Guardian Life Insurance Co. of America increased its stake in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares in the last quarter. Johnson Financial Group Inc. increased its stake in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares in the last quarter. Geneva Advisors LLC bought a new stake in shares of Intuit during the second quarter worth $211,000. Finally, LLBH Private Wealth Management LLC bought a new stake in shares of Intuit during the second quarter worth $214,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc. (NASDAQ:INTU) opened at 141.45 on Friday. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The company has a market cap of $36.35 billion, a PE ratio of 38.02 and a beta of 1.15. The stock has a 50 day moving average of $136.37 and a 200 day moving average of $129.68.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm had revenue of $842 million for the quarter, compared to the consensus estimate of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, analysts anticipate that Intuit Inc. will post $4.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.10%. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is currently 36.56%.
A number of brokerages recently weighed in on INTU. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price on the stock in a research note on Wednesday, August 23rd. Oppenheimer Holdings, Inc. raised their target price on shares of Intuit from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. Jefferies Group LLC began coverage on shares of Intuit in a research note on Thursday, August 24th. They issued a “buy” rating and a $157.00 target price on the stock. Bank of America Corporation reaffirmed a “buy” rating and issued a $145.00 target price on shares of Intuit in a research note on Wednesday, August 23rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $141.00 target price on shares of Intuit in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $137.59.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders have sold 481,827 shares of company stock worth $65,231,949. Corporate 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.
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.