Covington Capital Management lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,416 shares of the software maker’s stock after selling 1,091 shares during the period. Covington Capital Management’s holdings in Intuit were worth $11,110,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of Intuit by 71.7% in the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock valued at $74,412,000 after purchasing an additional 196,911 shares in the last quarter. Boston Advisors LLC lifted its holdings in shares of Intuit by 1,337.2% in the fourth quarter. Boston Advisors LLC now owns 130,301 shares of the software maker’s stock valued at $20,559,000 after purchasing an additional 121,235 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of Intuit in the third quarter valued at $959,000. Sit Investment Associates Inc. lifted its holdings in shares of Intuit by 4.4% in the fourth quarter. Sit Investment Associates Inc. now owns 85,850 shares of the software maker’s stock valued at $13,545,000 after purchasing an additional 3,650 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C lifted its holdings in shares of Intuit by 142.3% in the third quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock valued at $71,764,000 after purchasing an additional 296,481 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.
INTU has been the subject of a number of research analyst reports. Citigroup increased their target price on Intuit to $170.00 in a report on Tuesday, November 21st. Deutsche Bank reaffirmed a “buy” rating and issued a $180.00 price target on shares of Intuit in a research note on Tuesday, January 9th. Oppenheimer reaffirmed a “buy” rating and issued a $166.00 price target (up from $159.00) on shares of Intuit in a research note on Tuesday, November 21st. Jefferies Group reaffirmed a “buy” rating and issued a $185.00 price target on shares of Intuit in a research note on Tuesday, November 21st. Finally, Bank of America upped their price target on shares of Intuit from $172.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $167.05.
Intuit Inc. (NASDAQ:INTU) traded down $0.54 during trading on Wednesday, reaching $177.14. 59,768 shares of the company’s stock traded hands, compared to its average volume of 1,409,460. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $45,416.18, a P/E ratio of 47.29, a price-to-earnings-growth ratio of 2.70 and a beta of 1.15. Intuit Inc. has a 52-week low of $114.80 and a 52-week high of $179.17.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Intuit had a net margin of 17.48% and a return on equity of 72.52%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. equities research analysts forecast that Intuit Inc. will post 4.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Tuesday, April 10th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, April 9th. Intuit’s payout ratio is 42.86%.
Intuit Company Profile
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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