Cubist Systematic Strategies LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 71.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,041 shares of the software maker’s stock after selling 39,290 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Intuit were worth $4,202,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in Intuit by 100.8% during the 4th quarter. Private Advisor Group LLC now owns 11,928 shares of the software maker’s stock worth $3,124,000 after acquiring an additional 1,451,166 shares in the last quarter. Sands Capital Management LLC raised its position in Intuit by 53.3% in the 4th quarter. Sands Capital Management LLC now owns 3,400,292 shares of the software maker’s stock valued at $890,638,000 after purchasing an additional 1,181,976 shares in the last quarter. Findlay Park Partners LLP raised its position in Intuit by 253.5% in the 4th quarter. Findlay Park Partners LLP now owns 1,406,788 shares of the software maker’s stock valued at $368,480,000 after purchasing an additional 1,008,788 shares in the last quarter. Edgewood Management LLC raised its position in Intuit by 21.2% in the 4th quarter. Edgewood Management LLC now owns 4,914,250 shares of the software maker’s stock valued at $1,287,190,000 after purchasing an additional 860,132 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Intuit by 199.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,203,409 shares of the software maker’s stock worth $315,209,000 after acquiring an additional 801,809 shares in the last quarter. Institutional investors and hedge funds own 87.34% of the company’s stock.
Shares of INTU stock opened at $232.58 on Thursday. The business’s 50 day moving average is $271.78 and its two-hundred day moving average is $268.06. Intuit Inc. has a twelve month low of $187.68 and a twelve month high of $306.89. The company has a market capitalization of $60.91 billion, a P/E ratio of 37.63, a price-to-earnings-growth ratio of 2.91 and a beta of 0.97. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10.
Intuit (NASDAQ:INTU) last announced its earnings results on Monday, February 24th. The software maker reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. Intuit had a return on equity of 41.03% and a net margin of 22.89%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $1.00 EPS. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Monday, April 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, April 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. Intuit’s dividend payout ratio (DPR) is presently 37.99%.
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Intuit from $256.00 to $268.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 25th. Jefferies Financial Group raised their price target on Intuit from to and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Zacks Investment Research upgraded Intuit from a “sell” rating to a “hold” rating and set a $282.00 price target on the stock in a research note on Friday, February 28th. Guggenheim raised their price target on Intuit from to in a research note on Tuesday, February 25th. Finally, Wells Fargo & Co dropped their price target on Intuit from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $290.40.
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.
Featured Story: Net Margin – Understanding the Different Kinds of Profit
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.