Intuit Inc. (INTU) Shares Sold by Victory Capital Management Inc.
Victory Capital Management Inc. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,195 shares of the software maker’s stock after selling 225 shares during the quarter. Victory Capital Management Inc.’s holdings in Intuit were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in INTU. Guardian Life Insurance Co. of America raised its stake in shares of Intuit by 0.5% during the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after acquiring an additional 5 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Intuit during the second quarter worth approximately $123,000. Johnson Financial Group Inc. raised its stake in shares of Intuit by 5.8% during the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after acquiring an additional 59 shares in the last quarter. Pax World Management LLC purchased a new position in shares of Intuit during the first quarter worth approximately $205,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Intuit during the first quarter worth approximately $208,000. Institutional investors and hedge funds own 85.96% of the company’s stock.
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In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,585 shares of company stock worth $122,643,706. Insiders own 5.70% of the company’s stock.
INTU has been the topic of several research reports. Jefferies Group LLC initiated coverage on shares of Intuit in a research note on Thursday, August 24th. They set a “buy” rating and a $157.00 price target on the stock. Oppenheimer Holdings, Inc. lifted their price target on shares of Intuit from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. Bank of America Corporation reissued a “buy” rating and set a $145.00 price target on shares of Intuit in a research note on Wednesday, August 23rd. Credit Suisse Group reissued an “outperform” rating and set a $155.00 price target (up from $150.00) on shares of Intuit in a research note on Wednesday, August 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $150.00 price target on shares of Intuit in a research note on Wednesday, August 23rd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $140.24.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 143.80 on Tuesday. The company has a market cap of $36.67 billion, a PE ratio of 38.66 and a beta of 1.15. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $144.06. The company has a 50-day moving average of $138.61 and a 200 day moving average of $131.40.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities research analysts expect that Intuit Inc. will post $4.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid 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 1.08%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is currently 36.56%.
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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