2,189 Shares in Intuit Inc. (INTU) Purchased by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. bought a new stake in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,189 shares of the software maker’s stock, valued at approximately $291,000.
Other hedge funds have also modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake in Intuit by 0.5% during the 1st 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 during the period. FineMark National Bank & Trust increased its stake in Intuit by 0.4% during the 2nd quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock worth $361,000 after buying an additional 11 shares during the period. Cue Financial Group Inc. increased its stake in Intuit by 0.3% during the 2nd quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock worth $930,000 after buying an additional 20 shares during the period. Harbour Capital Advisors LLC increased its stake in Intuit by 0.6% during the 1st quarter. Harbour Capital Advisors LLC now owns 4,061 shares of the software maker’s stock worth $471,000 after buying an additional 25 shares during the period. Finally, Wetherby Asset Management Inc. increased its stake in Intuit by 0.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock worth $935,000 after buying an additional 27 shares during the period. 85.96% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO R Neil Williams sold 184,585 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the completion of the transaction, the chief financial officer now owns 64,620 shares of the company’s stock, valued at approximately $9,118,528.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,585 shares of company stock valued at $122,643,706. Corporate insiders own 5.70% of the company’s stock.
Intuit Inc. (INTU) opened at 142.13 on Monday. The firm has a market capitalization of $36.24 billion, a price-to-earnings ratio of 38.21 and a beta of 1.15. The stock has a 50 day moving average of $138.38 and a 200 day moving average of $131.17. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a $0.39 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.10%. Intuit’s dividend payout ratio is currently 36.56%.
Several equities research analysts recently issued reports on INTU shares. Stifel Nicolaus lifted their price target on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, May 24th. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price target on the stock in a research note on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $141.00 price target on shares of Intuit in a research note on Thursday, August 24th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Monday, August 28th. Finally, Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $148.00 to $141.00 in a research note on Monday, June 26th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Intuit has an average rating of “Buy” and a consensus target price of $140.24.
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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