Sterling Capital Management LLC Cuts Stake in Intuit Inc. (INTU)
Sterling Capital Management LLC decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525,520 shares of the software maker’s stock after selling 6,363 shares during the period. Sterling Capital Management LLC owned approximately 0.21% of Intuit worth $74,697,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Janus Henderson Group PLC boosted its stake in shares of Intuit by 612.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after purchasing an additional 2,236,974 shares in the last quarter. Koch Industries Inc. boosted 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 acquiring an additional 1,434,880 shares in 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. 86.28% of the stock is currently owned by hedge funds and other institutional investors.
Intuit Inc. (NASDAQ INTU) opened at $155.85 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.35. The stock has a market cap of $39,684.54, a PE ratio of 41.51, a price-to-earnings-growth ratio of 2.79 and a beta of 1.18. Intuit Inc. has a twelve month low of $111.90 and a twelve month high of $158.90.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.56 annualized dividend and a yield of 1.00%. Intuit’s dividend payout ratio (DPR) is presently 41.38%.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total value of $26,618,118.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of Intuit stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $144.20, for a total transaction of $257,108.60. Following the completion of the transaction, the executive vice president now directly owns 2,675 shares of the company’s stock, valued at $385,735. The disclosure for this sale can be found here. Insiders sold 879,480 shares of company stock valued at $132,586,537 over the last ninety days. Corporate insiders own 5.59% of the company’s stock.
Several research firms recently commented on INTU. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group began coverage on shares of Intuit in a research note on Thursday, August 24th. They set a “buy” rating and a $157.00 price objective on the stock. Deutsche Bank reissued a “buy” rating and set a $150.00 price objective on shares of Intuit in a research note on Wednesday, August 23rd. Oppenheimer reissued a “buy” rating and set a $166.00 price objective (up previously from $159.00) on shares of Intuit in a research note on Tuesday, November 21st. Finally, Citigroup boosted their price objective on shares of Intuit to $170.00 in a research note on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $152.89.
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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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