Landscape Capital Management L.L.C. Sells 5,361 Shares of Intuit Inc. (NASDAQ:INTU)
Landscape Capital Management L.L.C. lessened its stake in Intuit Inc. (NASDAQ:INTU) by 16.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,331 shares of the software maker’s stock after selling 5,361 shares during the quarter. Intuit comprises about 0.6% of Landscape Capital Management L.L.C.’s investment portfolio, making the stock its 27th largest holding. Landscape Capital Management L.L.C.’s holdings in Intuit were worth $7,142,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Intuit by 10.0% in the first quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock valued at $2,671,557,000 after purchasing an additional 930,221 shares during the last quarter. Janus Henderson Group PLC grew its stake in Intuit by 28.7% in the second quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock valued at $1,241,949,000 after acquiring an additional 1,060,033 shares during the period. Fundsmith LLP grew its stake in Intuit by 1.3% in the first quarter. Fundsmith LLP now owns 4,481,318 shares of the software maker’s stock valued at $1,171,461,000 after acquiring an additional 55,544 shares during the period. Geode Capital Management LLC grew its stake in Intuit by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,709,006 shares of the software maker’s stock valued at $728,975,000 after acquiring an additional 118,956 shares during the period. Finally, Northern Trust Corp grew its stake in Intuit by 1.6% in the first quarter. Northern Trust Corp now owns 3,271,541 shares of the software maker’s stock valued at $855,213,000 after acquiring an additional 52,834 shares during the period. Institutional investors and hedge funds own 88.48% of the company’s stock.
Shares of INTU stock traded down $9.58 on Wednesday, hitting $269.57. 51,612 shares of the stock were exchanged, compared to its average volume of 1,429,725. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $70.57 billion, a price-to-earnings ratio of 59.76, a P/E/G ratio of 2.78 and a beta of 1.10. The business has a 50-day moving average of $274.33. Intuit Inc. has a fifty-two week low of $182.61 and a fifty-two week high of $284.97.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.88 annualized dividend and a yield of 0.70%. Intuit’s dividend payout ratio (DPR) is presently 41.50%.
A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Credit Suisse Group boosted their target price on Intuit from $260.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating and set a $268.00 target price for the company. in a research note on Wednesday, May 29th. Barclays boosted their target price on Intuit from $225.00 to $237.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Finally, ValuEngine cut Intuit from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $254.15.
In related news, Chairman Scott D. Cook sold 103,817 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $258.59, for a total transaction of $26,846,038.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the transaction, the chief financial officer now directly owns 10,628 shares of the company’s stock, valued at $2,723,637.56. The disclosure for this sale can be found here. Insiders have sold 277,296 shares of company stock valued at $72,342,898 over the last three months. Insiders own 4.60% of the company’s stock.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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