Polaris Greystone Financial Group LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 45.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,680 shares of the software maker’s stock after selling 1,397 shares during the quarter. Polaris Greystone Financial Group LLC’s holdings in Intuit were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. HWG Holdings LP raised its stake in shares of Intuit by 1,507.2% in the third quarter. HWG Holdings LP now owns 46,353 shares of the software maker’s stock worth $10,541,000 after buying an additional 43,469 shares during the period. Seven Eight Capital LP grew its position in shares of Intuit by 437.3% during the third quarter. Seven Eight Capital LP now owns 63,400 shares of the software maker’s stock worth $14,417,000 after purchasing an additional 51,600 shares in the last quarter. Huntington National Bank grew its position in shares of Intuit by 2.1% during the third quarter. Huntington National Bank now owns 20,987 shares of the software maker’s stock worth $4,773,000 after purchasing an additional 428 shares in the last quarter. Oakbrook Investments LLC grew its position in shares of Intuit by 55.7% during the third quarter. Oakbrook Investments LLC now owns 14,812 shares of the software maker’s stock worth $3,368,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Aperio Group LLC grew its position in shares of Intuit by 3.6% during the third quarter. Aperio Group LLC now owns 226,688 shares of the software maker’s stock worth $51,549,000 after purchasing an additional 7,969 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.
INTU has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on Intuit to $240.00 and gave the stock a “market perform” rating in a research report on Friday, August 17th. BidaskClub cut Intuit from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Oppenheimer increased their target price on Intuit from $224.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. Finally, Credit Suisse Group set a $250.00 target price on Intuit and gave the stock a “buy” rating in a research report on Monday, October 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Intuit presently has an average rating of “Buy” and a consensus price target of $224.29.
NASDAQ INTU opened at $211.10 on Friday. The company has a market cap of $55.01 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 2.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.14 and a quick ratio of 1.14. Intuit Inc. has a 1-year low of $145.83 and a 1-year high of $231.84.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. The business had revenue of $988.00 million during the quarter, compared to analysts’ expectations of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. As a group, research analysts forecast that Intuit Inc. will post 5.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 10th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.89%. The ex-dividend date was Tuesday, October 9th. This is a boost from Intuit’s previous quarterly dividend of $0.39. Intuit’s dividend payout ratio (DPR) is currently 41.50%.
In other Intuit news, EVP Henry Tayloe Stansbury sold 3,651 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $221.54, for a total transaction of $808,842.54. Following the completion of the transaction, the executive vice president now owns 4,048 shares in the company, valued at approximately $896,793.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brad D. Smith sold 254,325 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $227.66, for a total value of $57,899,629.50. Following the transaction, the chief executive officer now owns 415,445 shares of the company’s stock, valued at approximately $94,580,208.70. The disclosure for this sale can be found here. Insiders have sold a total of 622,236 shares of company stock valued at $137,883,071 in the last 90 days. 5.59% of the stock is currently owned by company insiders.
Intuit Company Profile
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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