Impax Asset Management LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,574 shares of the software maker’s stock after selling 1,962 shares during the period. Impax Asset Management LLC’s holdings in Intuit were worth $4,612,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Intuit by 5.2% during the second quarter. BlackRock Inc. now owns 17,394,902 shares of the software maker’s stock valued at $3,553,866,000 after purchasing an additional 866,776 shares during the last quarter. FMR LLC boosted its position in Intuit by 14.3% during the second quarter. FMR LLC now owns 10,343,136 shares of the software maker’s stock valued at $2,113,155,000 after purchasing an additional 1,290,503 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Intuit by 0.5% during the second quarter. OppenheimerFunds Inc. now owns 2,974,690 shares of the software maker’s stock valued at $607,744,000 after purchasing an additional 16,086 shares during the last quarter. Brown Advisory Inc. boosted its position in Intuit by 16.3% during the first quarter. Brown Advisory Inc. now owns 2,967,883 shares of the software maker’s stock valued at $514,484,000 after purchasing an additional 416,938 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Intuit by 1.7% during the first quarter. Royal Bank of Canada now owns 2,887,262 shares of the software maker’s stock valued at $500,508,000 after purchasing an additional 48,265 shares during the last quarter. 87.02% of the stock is owned by institutional investors.
INTU has been the subject of several recent research reports. Barclays increased their price target on Intuit from $194.00 to $204.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 15th. Argus increased their price target on Intuit from $225.00 to $250.00 in a research report on Tuesday, July 24th. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $243.00 price target for the company in a research report on Tuesday, August 28th. Morgan Stanley increased their price target on Intuit from $147.00 to $154.00 and gave the company an “underweight” rating in a research report on Wednesday, May 23rd. Finally, Royal Bank of Canada increased their price target on Intuit to $240.00 and gave the company a “market perform” rating in a research report on Friday, August 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $216.94.
NASDAQ:INTU opened at $224.72 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $56.99 billion, a price-to-earnings ratio of 48.53, a price-to-earnings-growth ratio of 2.33 and a beta of 1.21. Intuit Inc. has a 12-month low of $140.21 and a 12-month high of $225.12.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. The firm had revenue of $988.00 million for the quarter, compared to analyst estimates of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. equities research analysts predict that Intuit Inc. will post 5.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Shareholders of record on Wednesday, October 10th will be paid a $0.47 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.88 annualized dividend and a yield of 0.84%. Intuit’s dividend payout ratio is currently 34.44%.
In other news, insider Scott D. Cook sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $209.41, for a total transaction of $20,941,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 3,941 shares of the stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $202.21, for a total value of $796,909.61. The disclosure for this sale can be found here. Insiders sold 368,201 shares of company stock worth $78,754,509 in the last 90 days. Corporate insiders own 5.59% 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 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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