Nisa Investment Advisors LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 122,205 shares of the software maker’s stock after buying an additional 8,734 shares during the period. Nisa Investment Advisors LLC’s holdings in Intuit were worth $16,360,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America boosted its stake in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after buying an additional 5 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Intuit by 0.6% in the first quarter. Integrated Investment Consultants LLC now owns 2,191 shares of the software maker’s stock valued at $254,000 after buying an additional 13 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Intuit by 1.1% in the first quarter. Alpha Windward LLC now owns 2,287 shares of the software maker’s stock valued at $265,000 after buying an additional 25 shares during the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Intuit by 0.6% in the first quarter. Harbour Capital Advisors LLC now owns 4,061 shares of the software maker’s stock valued at $471,000 after buying an additional 25 shares during the last quarter. Finally, Cleararc Capital Inc. boosted its stake in shares of Intuit by 0.5% in the first quarter. Cleararc Capital Inc. now owns 5,944 shares of the software maker’s stock valued at $689,000 after buying an additional 28 shares during the last quarter. 85.57% of the stock is currently owned by institutional investors.
Shares of Intuit Inc. (INTU) traded up 1.07% during trading on Friday, reaching $136.60. 747,234 shares of the company’s stock traded hands. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81. The company has a 50 day moving average price of $135.04 and a 200 day moving average price of $127.75. The stock has a market capitalization of $35.00 billion, a PE ratio of 39.25 and a beta of 1.15.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm earned $3.43 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post $4.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a $0.34 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. Intuit’s dividend payout ratio (DPR) is 39.19%.
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Several equities analysts recently issued reports on INTU shares. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Barclays PLC reaffirmed a “hold” rating and set a $130.00 target price on shares of Intuit in a report on Friday, April 28th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $141.00 target price (up previously from $125.00) on shares of Intuit in a report on Thursday, May 25th. Benchmark Co. started coverage on shares of Intuit in a report on Thursday, April 27th. They set a “buy” rating and a $140.00 target price for the company. Finally, Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a report on Monday, May 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $135.63.
In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,265 shares of company stock worth $21,085,104. Corporate insiders own 5.70% of the company’s stock.
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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