Neuberger Berman Group LLC reduced its position in Intuit (NASDAQ:INTU) by 2.7% during the 1st quarter, Holdings Channel reports. The firm owned 1,344,453 shares of the software maker’s stock after selling 36,635 shares during the period. Neuberger Berman Group LLC’s holdings in Intuit were worth $232,438,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC grew its holdings in Intuit by 100.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 750 shares of the software maker’s stock worth $130,000 after purchasing an additional 375 shares during the last quarter. Captrust Financial Advisors purchased a new position in Intuit in the fourth quarter worth $158,000. SeaCrest Wealth Management LLC purchased a new position in Intuit in the fourth quarter worth $170,000. Lake Street Advisors Group LLC purchased a new position in Intuit in the fourth quarter worth $200,000. Finally, Diversified Investment Strategies LLC purchased a new position in Intuit in the first quarter worth $204,000. 87.56% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $209.00 price target on the stock in a report on Monday, April 30th. Bank of America boosted their price objective on shares of Intuit from $186.60 to $194.00 and gave the company a “buy” rating in a report on Tuesday, May 1st. UBS boosted their price objective on shares of Intuit from $177.00 to $187.00 and gave the company a “neutral” rating in a report on Thursday, April 26th. Jefferies Group reissued a “buy” rating and set a $220.00 price objective on shares of Intuit in a report on Monday, April 23rd. Finally, Credit Suisse Group boosted their price objective on shares of Intuit from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, March 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. Intuit presently has a consensus rating of “Hold” and a consensus target price of $177.39.
In related news, Chairman Scott D. Cook sold 214,272 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $177.94, for a total transaction of $38,127,559.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Scott D. Cook sold 207,110 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $175.86, for a total transaction of $36,422,364.60. The disclosure for this sale can be found here. Insiders have sold 849,809 shares of company stock valued at $147,885,200 over the last 90 days. 5.59% of the stock is currently owned by insiders.
NASDAQ INTU opened at $192.59 on Tuesday. The firm has a market cap of $49.74 billion, a P/E ratio of 51.79, a price-to-earnings-growth ratio of 2.69 and a beta of 1.13. Intuit has a 1 year low of $192.11 and a 1 year high of $195.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.63.
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 analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Intuit had a net margin of 17.48% and a return on equity of 72.52%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 earnings per share. equities analysts predict that Intuit will post 4.33 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 18th. Investors of record on Tuesday, April 10th were given a dividend of $0.39 per share. The ex-dividend date was Monday, April 9th. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. Intuit’s dividend payout ratio is presently 41.38%.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
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