Virginia Retirement Systems ET AL increased its holdings in Intuit Inc. (NASDAQ:INTU) by 58.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,800 shares of the software maker’s stock after purchasing an additional 72,000 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Intuit were worth $44,525,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its holdings in shares of Intuit by 45.5% during the second quarter. IFM Investors Pty Ltd now owns 10,947 shares of the software maker’s stock valued at $2,237,000 after acquiring an additional 3,424 shares during the last quarter. Cullinan Associates Inc. raised its holdings in shares of Intuit by 58.4% during the second quarter. Cullinan Associates Inc. now owns 37,655 shares of the software maker’s stock valued at $7,693,000 after acquiring an additional 13,880 shares during the last quarter. Capital Investment Advisors LLC acquired a new position in shares of Intuit during the second quarter valued at approximately $217,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Intuit by 16.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,333 shares of the software maker’s stock valued at $885,000 after acquiring an additional 600 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Intuit by 21.7% during the second quarter. State of Alaska Department of Revenue now owns 41,903 shares of the software maker’s stock valued at $8,558,000 after acquiring an additional 7,480 shares during the last quarter. 87.18% of the stock is owned by institutional investors.
In related news, Director Dennis D. Powell sold 4,554 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $215.05, for a total value of $979,337.70. Following the completion of the sale, the director now owns 4,083 shares of the company’s stock, valued at $878,049.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Scott D. Cook sold 100,000 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $211.66, for a total value of $21,166,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 622,236 shares of company stock valued at $137,883,071. Insiders own 5.59% of the company’s stock.
NASDAQ:INTU opened at $214.28 on Tuesday. Intuit Inc. has a one year low of $150.43 and a one year high of $231.84. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $55.09 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.44 and a beta of 1.19.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The firm had revenue of $988.00 million during the quarter, compared to analysts’ expectations of $952.67 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 5.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 10th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend 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%.
A number of equities analysts have commented on INTU shares. Royal Bank of Canada increased their target price on Intuit to $240.00 and gave the company a “market perform” rating in a report on Friday, August 17th. BidaskClub cut Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Oppenheimer increased their target price on Intuit from $224.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Finally, Evercore ISI raised Intuit from an “in-line” rating to an “outperform” rating in a report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $224.29.
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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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