Raymond James Financial Services Advisors Inc. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,901 shares of the software maker’s stock after selling 1,625 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Intuit were worth $1,834,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of INTU. Oakbrook Investments LLC grew its position in shares of Intuit by 118.1% in the third quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock valued at $3,045,000 after purchasing an additional 11,600 shares during the last quarter. Comgest Global Investors S.A.S. grew its position in shares of Intuit by 2.4% in the second quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock valued at $58,433,000 after purchasing an additional 10,400 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Intuit by 218.4% in the second quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock valued at $30,483,000 after purchasing an additional 157,101 shares during the last quarter. Asset Advisors Corp grew its position in shares of Intuit by 2.5% in the third quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock valued at $13,157,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new position in shares of Intuit in the second quarter valued at approximately $13,971,000. Institutional investors own 86.28% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded up $1.72 during trading on Thursday, reaching $156.19. The company’s stock had a trading volume of 946,500 shares, compared to its average volume of 1,488,894. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67. Intuit Inc. has a 52-week low of $111.90 and a 52-week high of $158.90. The firm has a market cap of $39,490.24, a P/E ratio of 41.30, a P/E/G ratio of 2.78 and a beta of 1.18.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.30. The company had revenue of $886.00 million for the quarter, compared to analysts’ expectations of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. analysts forecast that Intuit Inc. will post 3.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.39 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.00%. Intuit’s dividend payout ratio (DPR) is presently 41.38%.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total transaction of $26,618,118.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $142.31, for a total transaction of $265,835.08. Following the transaction, the vice president now directly owns 1,713 shares in the company, valued at approximately $243,777.03. The disclosure for this sale can be found here. Insiders have sold a total of 898,807 shares of company stock worth $132,768,878 in the last three months. Insiders own 5.59% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research cut Intuit from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Morgan Stanley boosted their price target on Intuit from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, November 21st. Oppenheimer restated a “buy” rating and set a $166.00 target price (up from $159.00) on shares of Intuit in a research note on Tuesday, November 21st. UBS upped their target price on Intuit from $152.00 to $158.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 21st. Finally, Wells Fargo & Company restated an “outperform” rating and set a $180.00 target price (up from $163.00) on shares of Intuit in a research note on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $152.89.
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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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