Teachers Insurance & Annuity Association of America purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,314 shares of the software maker’s stock, valued at approximately $680,000.
A number of other hedge funds also recently made changes to their positions in INTU. Bank of Montreal Can grew its stake in shares of Intuit by 71.7% in the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock worth $74,412,000 after acquiring an additional 196,911 shares during the last quarter. Boston Advisors LLC grew its stake in shares of Intuit by 1,337.2% in the fourth quarter. Boston Advisors LLC now owns 130,301 shares of the software maker’s stock worth $20,559,000 after acquiring an additional 121,235 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of Intuit in the third quarter worth $959,000. Sit Investment Associates Inc. grew its stake in shares of Intuit by 4.4% in the fourth quarter. Sit Investment Associates Inc. now owns 85,850 shares of the software maker’s stock worth $13,545,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C grew its stake in shares of Intuit by 142.3% in the third quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock worth $71,764,000 after acquiring an additional 296,481 shares during the last quarter. Institutional investors own 87.15% of the company’s stock.
Several brokerages have recently issued reports on INTU. Credit Suisse Group raised their price objective on shares of Intuit from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday. Bank of America raised their price objective on shares of Intuit from $172.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Barclays restated an “equal weight” rating and issued a $170.00 price objective (up previously from $168.00) on shares of Intuit in a research note on Friday, February 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $148.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, February 23rd. Finally, UBS Group restated a “neutral” rating and issued a $177.00 price objective (up previously from $170.00) on shares of Intuit in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $167.05.
Shares of Intuit Inc. (INTU) opened at $177.68 on Wednesday. Intuit Inc. has a 52 week low of $114.80 and a 52 week high of $179.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $45,416.18, a price-to-earnings ratio of 47.29, a price-to-earnings-growth ratio of 2.70 and a beta of 1.15.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Intuit had a net margin of 17.48% and a return on equity of 72.52%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $0.26 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. equities analysts forecast that Intuit Inc. will post 4.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Tuesday, April 10th will be issued a dividend of $0.39 per share. The ex-dividend date is Monday, April 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.88%. Intuit’s payout ratio is presently 42.86%.
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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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