Vanguard Group Inc. raised its position in Intuit Inc. (NASDAQ:INTU) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,742,050 shares of the software maker’s stock after acquiring an additional 32,536 shares during the quarter. Vanguard Group Inc. owned approximately 7.95% of Intuit worth $6,143,589,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Harvest Group Wealth Management LLC acquired a new stake in shares of Intuit in the 2nd quarter worth $25,000. Financial Management Professionals Inc. purchased a new stake in shares of Intuit during the second quarter worth about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Intuit during the second quarter worth about $27,000. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Intuit during the first quarter valued at about $35,000. Finally, Front Row Advisors LLC purchased a new position in shares of Intuit in the 1st quarter valued at approximately $42,000. 85.52% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on INTU shares. Morgan Stanley upped their price target on shares of Intuit from $290.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. Credit Suisse Group upped their target price on Intuit from $330.00 to $375.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Jefferies Financial Group lifted their price target on Intuit from $340.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Citigroup boosted their price target on Intuit from $292.00 to $362.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Finally, Wells Fargo & Co raised their price objective on Intuit from $345.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $355.24.
Shares of NASDAQ INTU traded down $6.52 during midday trading on Friday, reaching $333.11. 1,209,430 shares of the stock were exchanged, compared to its average volume of 1,208,985. Intuit Inc. has a twelve month low of $187.68 and a twelve month high of $360.00. The firm has a market cap of $87.21 billion, a price-to-earnings ratio of 48.14, a PEG ratio of 3.80 and a beta of 0.96. The firm has a 50-day simple moving average of $311.89 and a two-hundred day simple moving average of $282.78. The company has a quick ratio of 1.79, a current ratio of 2.26 and a debt-to-equity ratio of 0.40.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 25th. The software maker reported $1.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.95. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Intuit had a return on equity of 40.79% and a net margin of 23.78%. The business’s revenue for the quarter was up 81.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. Research analysts expect that Intuit Inc. will post 7.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Monday, October 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.53. Intuit’s dividend payout ratio (DPR) is 32.32%.
In related news, CEO Sasan K. Goodarzi sold 161,258 shares of Intuit stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $345.66, for a total transaction of $55,740,440.28. Following the transaction, the chief executive officer now owns 154,306 shares in the company, valued at approximately $53,337,411.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 16,106 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $343.70, for a total transaction of $5,535,632.20. Following the sale, the chief financial officer now directly owns 16,652 shares of the company’s stock, valued at $5,723,292.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,206 shares of company stock valued at $68,746,101. Insiders own 4.09% of the company’s stock.
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.
Featured Article: Fundamental Analysis and Choosing Stocks
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.