Intuit Inc. (INTU) Holdings Raised by Colony Group LLC
Colony Group LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 23.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,750 shares of the software maker’s stock after purchasing an additional 17,494 shares during the quarter. Colony Group LLC’s holdings in Intuit were worth $12,185,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors acquired a new stake in Intuit during the 2nd quarter valued at approximately $108,000. Shine Investment Advisory Services Inc. acquired a new stake in Intuit during the 2nd quarter valued at approximately $123,000. Guardian Life Insurance Co. of America grew 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 valued at $109,000 after purchasing an additional 5 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Intuit during the 2nd quarter valued at approximately $140,000. Finally, ETF Managers Group LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $140,000. Hedge funds and other institutional investors own 85.96% of the company’s stock.
INTU has been the subject of several research reports. Raymond James Financial, Inc. lowered Intuit from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 27th. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Monday, August 28th. Moffett Nathanson initiated coverage on Intuit in a research report on Thursday, September 7th. They issued a “buy” rating and a $150.00 target price for the company. Citigroup Inc. lowered Intuit from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $148.00 to $141.00 in a research report on Monday, June 26th. Finally, Jefferies Group LLC initiated coverage on Intuit in a research report on Thursday, August 24th. They issued a “buy” rating and a $157.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $142.74.
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Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.14% on Friday, hitting $145.66. The stock had a trading volume of 415,181 shares. The company has a market capitalization of $37.14 billion, a P/E ratio of 39.16 and a beta of 1.15. The firm has a 50 day moving average price of $142.36 and a 200 day moving average price of $133.88. Intuit Inc. has a one year low of $103.22 and a one year high of $146.99.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.03. The firm had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, equities research analysts predict that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio is 41.94%.
In related news, EVP Henry Tayloe Stansbury sold 28,048 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $146.19, for a total value of $4,100,337.12. Following the completion of the sale, the executive vice president now directly owns 28,940 shares in the company, valued at approximately $4,230,738.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total transaction of $26,618,118.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,084,194 shares of company stock valued at $151,162,540. Corporate insiders own 5.70% of the company’s stock.
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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