GLG Partners LP Has $3.31 Million Stake in Intuit Inc. (INTU)
GLG Partners LP decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 88.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,905 shares of the software maker’s stock after selling 192,352 shares during the quarter. GLG Partners LP’s holdings in Intuit were worth $3,308,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Intuit by 1,542.9% during the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after buying an additional 16,306,976 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Intuit by 2.7% in the second quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock valued at $2,233,621,000 after buying an additional 444,676 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in Intuit by 7.8% in the second quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock valued at $634,903,000 after buying an additional 347,159 shares during the period. Morgan Stanley lifted its holdings in Intuit by 38.5% in the first 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 during the period. Finally, Janus Capital Management LLC boosted its stake in Intuit by 5.4% in the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock valued at $312,593,000 after acquiring an additional 138,184 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded up 0.52% on Monday, hitting $142.88. The company had a trading volume of 303,812 shares. The stock’s 50-day moving average price is $138.84 and its 200 day moving average price is $131.54. Intuit Inc. has a one year low of $103.22 and a one year high of $146.72. The company has a market capitalization of $36.43 billion, a P/E ratio of 38.41 and a beta of 1.15.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Intuit’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, 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 paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is 36.56%.
Several brokerages have commented on INTU. First Analysis upgraded shares of 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. UBS AG lowered Intuit to an “underperform” rating in a research report on Wednesday, September 27th. William Blair started coverage on Intuit in a research report on Tuesday, September 19th. They issued an “outperform” rating on the stock. Wells Fargo & Company raised Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price objective for the company in a research note on Thursday, September 21st. Finally, Argus started coverage on Intuit in a research note on Wednesday, September 20th. They set a “buy” rating and a $165.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $142.74.
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In other Intuit news, EVP Henry Tayloe Stansbury sold 5,350 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $140.25, for a total transaction of $750,337.50. Following the completion of the sale, the executive vice president now directly owns 6,242 shares of the company’s stock, valued at approximately $875,440.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 183,333 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $145.19, for a total value of $26,618,118.27. The disclosure for this sale can be found here. Insiders have sold a total of 1,084,194 shares of company stock valued at $151,162,540 in the last 90 days. 5.70% of the stock is currently owned by company insiders.
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.
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