Cullinan Associates Inc. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,280 shares of the software maker’s stock after selling 1,200 shares during the period. Intuit accounts for 0.8% of Cullinan Associates Inc.’s investment portfolio, making the stock its 24th biggest holding. Cullinan Associates Inc.’s holdings in Intuit were worth $11,244,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in INTU. BlackRock Inc. lifted its stake in Intuit by 2.5% in the second quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock worth $5,401,090,000 after purchasing an additional 503,291 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Intuit by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,951,046 shares of the software maker’s stock valued at $5,213,806,000 after acquiring an additional 305,013 shares during the last quarter. FMR LLC raised its stake in shares of Intuit by 10.0% during the first quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock valued at $2,671,557,000 after acquiring an additional 930,221 shares during the last quarter. Invesco Ltd. raised its stake in shares of Intuit by 96.3% during the second quarter. Invesco Ltd. now owns 6,001,471 shares of the software maker’s stock valued at $1,568,367,000 after acquiring an additional 2,944,291 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Intuit by 4,951.7% during the second quarter. Nuveen Asset Management LLC now owns 4,988,508 shares of the software maker’s stock valued at $1,303,647,000 after acquiring an additional 4,889,759 shares during the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.
NASDAQ INTU traded up $1.50 during trading on Thursday, reaching $265.50. 7,742 shares of the company’s stock traded hands, compared to its average volume of 1,215,632. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a market cap of $68.66 billion, a price-to-earnings ratio of 47.71, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. The company’s 50 day simple moving average is $273.20 and its two-hundred day simple moving average is $264.58. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $295.77.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.37. The firm had revenue of $994.00 million for the quarter, compared to the consensus estimate of $964.02 million. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Research analysts expect that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is a boost from Intuit’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 0.80%. Intuit’s dividend payout ratio is currently 33.69%.
In other Intuit news, SVP Kerry J. Mclean sold 20,543 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $277.05, for a total transaction of $5,691,438.15. Following the completion of the transaction, the senior vice president now directly owns 25,170 shares in the company, valued at $6,973,348.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeffrey David Ayers sold 39,689 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $17.15, for a total transaction of $680,666.35. Insiders have sold 285,279 shares of company stock valued at $68,553,645 over the last 90 days. 4.60% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Intuit from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Morgan Stanley boosted their price target on shares of Intuit from $244.00 to $260.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Credit Suisse Group boosted their price target on shares of Intuit from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. BidaskClub cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus boosted their price target on shares of Intuit from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $277.00.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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