Investec Asset Management LTD lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 980,718 shares of the software maker’s stock after buying an additional 27,946 shares during the quarter. Investec Asset Management LTD’s holdings in Intuit were worth $154,738,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. APG Asset Management N.V. boosted its stake in Intuit by 102.0% in the 4th quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock worth $215,555,000 after purchasing an additional 828,387 shares in the last quarter. Jensen Investment Management Inc. bought a new position in Intuit in the 3rd quarter worth about $112,811,000. BlackRock Inc. boosted its stake in Intuit by 3.0% in the 4th quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock worth $2,669,740,000 after purchasing an additional 486,554 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its stake in Intuit by 142.3% in the 3rd quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock worth $71,764,000 after purchasing an additional 296,481 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Intuit by 25.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,073,900 shares of the software maker’s stock worth $152,645,000 after purchasing an additional 217,289 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Scott D. Cook sold 112,731 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $160.97, for a total value of $18,146,309.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of the stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $158.94, for a total transaction of $342,992.52. Following the completion of the transaction, the executive vice president now owns 3,050 shares in the company, valued at approximately $484,767. The disclosure for this sale can be found here. Insiders sold a total of 751,826 shares of company stock worth $122,449,540 in the last quarter. Company insiders own 5.59% of the company’s stock.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Intuit had a net margin of 17.48% and a return on equity of 72.52%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. equities research analysts forecast that Intuit Inc. will post 4.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Tuesday, April 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Monday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 42.86%.
A number of equities analysts recently issued reports on INTU shares. UBS Group started coverage on shares of Intuit in a research note on Thursday, November 9th. They issued a “neutral” rating and a $152.00 price target on the stock. Barclays upped their price target on shares of Intuit from $135.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 15th. Royal Bank of Canada upped their price target on shares of Intuit from $141.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 16th. Jefferies Group reiterated a “buy” rating and issued a $185.00 price target on shares of Intuit in a research note on Tuesday, November 21st. Finally, Citigroup upped their price target on shares of Intuit to $170.00 in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $166.53.
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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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