Intuit Inc. (INTU) Holdings Cut by Raymond James Trust N.A.
Raymond James Trust N.A. cut its position in Intuit Inc. (NASDAQ:INTU) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,965 shares of the software maker’s stock after selling 496 shares during the quarter. Raymond James Trust N.A.’s holdings in Intuit were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Intuit by 1,542.9% during the 1st 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. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Intuit during the 2nd quarter valued at $136,099,000. Morgan Stanley raised its position in shares of Intuit by 38.5% during the 1st 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 raised its position in shares of Intuit by 249.1% during the 1st 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. Finally, Harbour Capital Advisors LLC raised its position in shares of Intuit by 21,749.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 887,304 shares of the software maker’s stock valued at $6,681,000 after buying an additional 883,243 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 1.15% on Tuesday, reaching $141.00. 544,812 shares of the company were exchanged. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of 37.90 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 company’s 50-day moving average is $137.62 and its 200-day moving average is $130.71.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm had revenue of $842.00 million during the quarter, compared to analyst estimates of $808.82 million. During the same period last year, the firm posted $0.08 EPS. Intuit’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post $4.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 1.09%. Intuit’s dividend payout ratio (DPR) is currently 36.56%.
Several analysts have recently weighed in on INTU shares. Royal Bank Of Canada raised their price objective on shares of 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 raised their price objective on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, May 24th. Deutsche Bank AG raised their price objective on shares of Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Bank of America Corporation raised their price objective on shares of Intuit from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, Citigroup Inc. raised their price objective on shares of Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $138.28.
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In other news, EVP Henry Tayloe Stansbury sold 15,415 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $141.27, for a total transaction of $2,177,677.05. Following the sale, the executive vice president now owns 892 shares of the company’s stock, valued at approximately $126,012.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $141.16, for a total transaction of $25,879,286.28. The disclosure for this sale can be found here. Insiders have sold a total of 685,925 shares of company stock valued at $94,039,250 over the last three months. 5.70% of the stock is currently owned by 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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