Comgest Global Investors S.A.S. increased its stake in Intuit Inc. (NASDAQ:INTU) by 351.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,872 shares of the company’s stock after buying an additional 115,872 shares during the period. Intuit makes up about 0.5% of Comgest Global Investors S.A.S.’s investment portfolio, making the stock its 20th largest position. Comgest Global Investors S.A.S.’s holdings in Intuit were worth $16,615,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Dubuque Bank & Trust Co. increased its stake in shares of Intuit by 8.3% in the first quarter. Dubuque Bank & Trust Co. now owns 1,625 shares of the company’s stock valued at $169,000 after buying an additional 125 shares during the last quarter. Alpha Windward LLC increased its stake in shares of Intuit by 2,340.6% in the second quarter. Alpha Windward LLC now owns 1,562 shares of the company’s stock valued at $174,000 after buying an additional 1,498 shares during the last quarter. Telemus Capital LLC bought a new stake in shares of Intuit during the second quarter valued at $201,000. Cape Cod Five Cents Savings Bank bought a new stake in shares of Intuit during the second quarter valued at $212,000. Finally, Independent Portfolio Consultants Inc. increased its stake in shares of Intuit by 18.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,885 shares of the company’s stock valued at $322,000 after buying an additional 440 shares during the last quarter. 86.01% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.79% during trading on Thursday, reaching $109.31. The company had a trading volume of 892,674 shares. Intuit Inc. has a 12-month low of $85.61 and a 12-month high of $116.97. The company has a market cap of $28.20 billion, a P/E ratio of 29.60 and a beta of 1.05. The firm has a 50-day moving average of $110.90 and a 200-day moving average of $107.58.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The company earned $754 million during the quarter, compared to analysts’ expectations of $735.35 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Intuit’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Intuit Inc. will post $4.35 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Intuit’s previous quarterly dividend of $0.30. Intuit’s payout ratio is 31.91%.
Several brokerages have recently weighed in on INTU. Brean Capital upped their target price on Intuit from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Canaccord Genuity reissued a “buy” rating and issued a $750.00 price target on shares of Intuit in a report on Friday, July 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $125.00 price target (down previously from $130.00) on shares of Intuit in a report on Wednesday, August 24th. Barclays PLC downgraded Intuit from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $110.00 to $116.00 in a report on Friday, July 15th. Finally, Goldman Sachs Group Inc. increased their price target on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $194.34.
In related news, EVP Henry Tayloe Stansbury sold 11,503 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total value of $1,282,239.41. Following the completion of the transaction, the executive vice president now owns 670 shares in the company, valued at approximately $74,684.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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