Victory Capital Management Inc. Has $969,000 Stake in Intuit Inc. (INTU)
Victory Capital Management Inc. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 26.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,744 shares of the software maker’s stock after purchasing an additional 988 shares during the period. Victory Capital Management Inc.’s holdings in Intuit were worth $969,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Management Co. LLC boosted its position in shares of Intuit by 68.1% during the first quarter. Global X Management Co. LLC now owns 45,855 shares of the software maker’s stock worth $7,949,000 after acquiring an additional 18,572 shares during the last quarter. FDx Advisors Inc. boosted its position in shares of Intuit by 15.6% during the first quarter. FDx Advisors Inc. now owns 12,706 shares of the software maker’s stock worth $2,203,000 after acquiring an additional 1,712 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of Intuit by 16.2% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 13,548 shares of the software maker’s stock worth $2,306,000 after acquiring an additional 1,891 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the first quarter worth $1,302,000. Finally, Mogy Joel R Investment Counsel Inc. boosted its position in shares of Intuit by 1.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 68,780 shares of the software maker’s stock worth $11,923,000 after acquiring an additional 925 shares during the last quarter. 87.73% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on INTU shares. Bank of America increased their price objective on shares of Intuit from $186.60 to $194.00 and gave the company a “buy” rating in a research report on Tuesday, May 1st. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Barclays reiterated a “hold” rating and set a $190.00 price objective on shares of Intuit in a research report on Sunday, May 20th. First Analysis lowered shares of Intuit from an “equal” rating to a “sell” rating and increased their price objective for the company from $143.00 to $160.00 in a research report on Wednesday, May 23rd. Finally, Wells Fargo & Co set a $215.00 price objective on shares of Intuit and gave the company an “outperform” rating in a research report on Wednesday, May 23rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $212.39.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The firm had revenue of $988.00 million during the quarter, compared to analyst estimates of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. research analysts anticipate that Intuit Inc. will post 5.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Wednesday, October 10th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Tuesday, October 9th. This is a positive change from Intuit’s previous quarterly dividend of $0.39. Intuit’s dividend payout ratio (DPR) is 34.44%.
In other news, EVP Henry Tayloe Stansbury sold 3,941 shares of the firm’s stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $202.21, for a total value of $796,909.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $209.41, for a total transaction of $20,941,000.00. The disclosure for this sale can be found here. Insiders sold a total of 203,941 shares of company stock valued at $42,549,910 in the last 90 days. Company insiders own 5.59% of the company’s stock.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
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