O Shaughnessy Asset Management LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 232.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 57,299 shares of the software maker’s stock after purchasing an additional 40,068 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Intuit were worth $13,023,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its holdings in shares of Intuit by 2,480.0% in the 3rd quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock valued at $117,000 after buying an additional 496 shares during the period. Willingdon Wealth Management acquired a new position in shares of Intuit in the 3rd quarter valued at about $121,000. Fort L.P. acquired a new position in shares of Intuit in the 2nd quarter valued at about $120,000. Qube Research & Technologies Ltd boosted its holdings in shares of Intuit by 160.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after buying an additional 373 shares during the period. Finally, Financial Gravity Wealth Inc. boosted its holdings in shares of Intuit by 65.0% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock valued at $122,000 after buying an additional 240 shares during the period. 87.18% of the stock is owned by institutional investors.
Intuit stock opened at $222.17 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.16. The stock has a market cap of $57.39 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.54 and a beta of 1.19. Intuit Inc. has a 52-week low of $150.43 and a 52-week high of $231.84.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Intuit’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. Equities analysts forecast that Intuit Inc. will post 5.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Tuesday, October 9th. Intuit’s payout ratio is presently 41.50%.
Several research analysts have recently commented on INTU shares. Argus lifted their price target on shares of Intuit from $225.00 to $250.00 in a report on Tuesday, July 24th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 price target for the company in a report on Tuesday, August 28th. Guggenheim started coverage on shares of Intuit in a report on Tuesday, August 7th. They issued a “buy” rating and a $250.00 price target for the company. BidaskClub lowered shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, July 27th. Finally, Stifel Nicolaus lifted their price target on shares of Intuit from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, August 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $224.29.
In other Intuit news, EVP Henry Tayloe Stansbury sold 3,651 shares of the business’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $221.54, for a total transaction of $808,842.54. Following the completion of the transaction, the executive vice president now directly owns 4,048 shares of the company’s stock, valued at approximately $896,793.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brad D. Smith sold 254,325 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $227.66, for a total transaction of $57,899,629.50. Following the transaction, the chief executive officer now directly owns 415,445 shares of the company’s stock, valued at $94,580,208.70. The disclosure for this sale can be found here. Insiders have sold a total of 622,236 shares of company stock valued at $137,883,071 over the last three months. 5.59% of the stock is currently owned by company insiders.
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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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