Oregon Public Employees Retirement Fund boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,096 shares of the software maker’s stock after buying an additional 4,400 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Intuit were worth $9,973,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of INTU. Guardian Life Insurance Co. of America boosted its position 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 position in 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 in the last quarter. Alpha Windward LLC boosted its position in 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 in the last quarter. Harbour Capital Advisors LLC boosted its position in 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 in the last quarter. Finally, Cleararc Capital Inc. boosted its position in 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 in the last quarter. Institutional investors own 85.57% of the company’s stock.
Intuit Inc. (NASDAQ INTU) traded up 1.07% on Friday, reaching $136.60. 747,234 shares of the company were exchanged. The firm has a 50-day moving average of $135.04 and a 200 day moving average of $127.75. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81. The firm has a market capitalization of $35.00 billion, a P/E 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.87 by $0.03. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.43 earnings per share. On average, equities analysts predict that Intuit Inc. will post $4.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were paid 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 presently 39.19%.
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INTU has been the topic of several recent analyst reports. Barclays PLC dropped their target price on shares of Intuit from $129.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, April 24th. Benchmark Co. initiated coverage on shares of Intuit in a research report on Thursday, April 27th. They set a “buy” rating and a $140.00 target price on the stock. Royal Bank Of Canada lifted their target price on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 24th. Stifel Nicolaus lifted their target price on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Finally, Deutsche Bank AG lifted their target price on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Intuit presently has a consensus rating of “Buy” and an average price target of $135.63.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 74,052 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total transaction of $10,327,291.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,265 shares of company stock valued at $21,085,104. Corporate insiders own 5.70% of the company’s stock.
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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