Cpwm LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, HoldingsChannel reports. The fund purchased 1,009 shares of the software maker’s stock, valued at approximately $229,000.
A number of other institutional investors also recently made changes to their positions in INTU. People s United Financial Inc. grew its position in Intuit by 16.6% in the 3rd quarter. People s United Financial Inc. now owns 3,509 shares of the software maker’s stock valued at $798,000 after buying an additional 500 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Intuit by 6.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 33,423 shares of the software maker’s stock valued at $7,600,000 after buying an additional 2,024 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Intuit by 489.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 146,859 shares of the software maker’s stock valued at $33,323,000 after buying an additional 121,940 shares during the last quarter. United Services Automobile Association grew its position in Intuit by 4.9% in the 3rd quarter. United Services Automobile Association now owns 182,699 shares of the software maker’s stock valued at $41,546,000 after buying an additional 8,494 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its position in Intuit by 0.7% in the 3rd quarter. Standard Life Aberdeen plc now owns 259,550 shares of the software maker’s stock valued at $59,021,000 after buying an additional 1,743 shares during the last quarter. Institutional investors own 87.90% of the company’s stock.
A number of equities analysts recently weighed in on INTU shares. Royal Bank of Canada lifted their price objective on shares of Intuit to $240.00 and gave the company a “market perform” rating in a research report on Friday, August 17th. BidaskClub downgraded Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Evercore ISI raised Intuit from an “in-line” rating to an “outperform” rating in a report on Wednesday, October 3rd. Oppenheimer raised 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, Credit Suisse Group set a $250.00 target price on Intuit and gave the company a “buy” rating in a report on Monday, October 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $219.71.
Intuit stock opened at $202.46 on Friday. Intuit Inc. has a one year low of $150.43 and a one year high of $231.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $54.90 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 2.47 and a beta of 1.19.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Monday, November 19th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.18. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $971.45 million. Intuit had a return on equity of 56.35% and a net margin of 20.71%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. On average, analysts predict that Intuit Inc. will post 5.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Stockholders of record on Thursday, January 10th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Wednesday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 41.50%.
In other news, CEO Brad D. Smith sold 22,418 shares of Intuit stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $205.63, for a total transaction of $4,609,813.34. Following the completion of the transaction, the chief executive officer now owns 292,520 shares of the company’s stock, valued at approximately $60,150,887.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brad D. Smith sold 254,325 shares of Intuit stock in a transaction on Friday, September 14th. The stock was 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 directly 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 701,533 shares of company stock valued at $148,887,741 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.
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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.
Further Reading: Risk Tolerance and Your Investment Decisions
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