AMP Capital Investors Ltd Buys 12,247 Shares of Intuit Inc. (INTU)
AMP Capital Investors Ltd increased its stake in Intuit Inc. (NASDAQ:INTU) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,934 shares of the software maker’s stock after purchasing an additional 12,247 shares during the quarter. AMP Capital Investors Ltd owned about 0.11% of Intuit worth $38,651,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Intuit by 612.6% during the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after buying an additional 2,236,974 shares during the period. Koch Industries Inc. lifted its stake in Intuit by 38,665.6% during the second quarter. Koch Industries Inc. now owns 1,438,591 shares of the software maker’s stock worth $1,428,000 after purchasing an additional 1,434,880 shares during the last quarter. Fundsmith LLP bought a new stake in Intuit during the second quarter worth about $144,464,000. Old Mutual Global Investors UK Ltd. bought a new stake in Intuit during the second quarter worth about $136,099,000. Finally, Jensen Investment Management Inc. bought a new stake in Intuit during the third quarter worth about $112,811,000. Institutional investors own 86.28% of the company’s stock.
A number of equities research analysts have recently weighed in on INTU shares. First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a research note on Wednesday, August 23rd. Credit Suisse Group reissued an “outperform” rating and issued a $155.00 target price (up previously from $150.00) on shares of Intuit in a research note on Wednesday, August 23rd. Deutsche Bank reissued a “buy” rating and issued a $150.00 target price on shares of Intuit in a research note on Wednesday, August 23rd. Bank of America restated a “buy” rating and set a $145.00 price target on shares of Intuit in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $141.00 price target on shares of Intuit in a report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $152.89.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The firm had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. research analysts expect that Intuit Inc. will post 3.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, January 9th. Intuit’s payout ratio is currently 41.38%.
In other news, VP Mark J. Flournoy sold 1,868 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $142.31, for a total transaction of $265,835.08. Following the transaction, the vice president now directly owns 1,713 shares of the company’s stock, valued at $243,777.03. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $144.20, for a total transaction of $257,108.60. Following the transaction, the executive vice president now directly owns 2,675 shares in the company, valued at $385,735. The disclosure for this sale can be found here. In the last three months, insiders sold 898,807 shares of company stock valued at $132,768,878. 5.59% of the stock is owned by insiders.
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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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