Bbva Compass Bancshares Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,913 shares of the software maker’s stock after selling 1,007 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Intuit were worth $2,973,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Intuit by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Intuit by 7.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Intuit by 5.4% during the 1st quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock valued at $312,593,000 after buying an additional 138,184 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Intuit by 612.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after buying an additional 2,236,974 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Intuit by 19.0% during the 2nd quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock valued at $333,124,000 after buying an additional 400,406 shares in the last quarter. 86.17% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) traded up $0.89 during mid-day trading on Friday, hitting $153.30. 712,000 shares of the company were exchanged, compared to its average volume of 959,277. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $39,087.52, a PE ratio of 40.66, a P/E/G ratio of 2.70 and a beta of 1.18. Intuit Inc. has a 52-week low of $108.70 and a 52-week high of $154.19.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. equities analysts forecast that Intuit Inc. will post 4.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is 41.94%.
Several equities analysts recently commented on the stock. UBS AG assumed coverage on shares of Intuit in a report on Thursday. They set a “neutral” rating and a $152.00 price target on the stock. Oppenheimer Holdings, Inc. upped their target price on shares of Intuit from $146.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Stifel Nicolaus reiterated a “hold” rating and set a $132.00 price objective on shares of Intuit in a research note on Friday, October 6th. Finally, Raymond James Financial, Inc. cut shares of Intuit from a “market perform” rating to an “underperform” rating in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Intuit presently has a consensus rating of “Hold” and a consensus price target of $144.74.
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In other news, Chairman Scott D. Cook sold 182,037 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $135.20, for a total value of $24,611,402.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total transaction of $257,108.60. Following the completion of the transaction, the executive vice president now owns 2,675 shares of the company’s stock, valued at approximately $385,735. The disclosure for this sale can be found here. Insiders have sold a total of 1,084,194 shares of company stock valued at $151,162,540 in the last quarter. 5.70% of the stock is currently owned by company insiders.
Intuit Company Profile
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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