Tocqueville Asset Management L.P. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,302 shares of the software maker’s stock after purchasing an additional 447 shares during the period. Tocqueville Asset Management L.P.’s holdings in Intuit were worth $13,137,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in INTU. Mackay Shields LLC acquired a new position in Intuit during the first quarter valued at approximately $7,086,000. Ffcm LLC acquired a new position in Intuit during the first quarter valued at approximately $835,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Intuit by 2.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 71,635 shares of the software maker’s stock valued at $12,418,000 after purchasing an additional 1,662 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Intuit by 13.4% during the first quarter. Robeco Institutional Asset Management B.V. now owns 200,499 shares of the software maker’s stock valued at $34,756,000 after purchasing an additional 23,676 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in Intuit by 5.2% during the first quarter. State of Wisconsin Investment Board now owns 298,581 shares of the software maker’s stock valued at $51,759,000 after purchasing an additional 14,885 shares during the last quarter. Institutional investors own 87.73% of the company’s stock.
Several equities analysts have commented on INTU shares. Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Royal Bank of Canada increased their price target on Intuit to $240.00 and gave the company a “market perform” rating in a report on Friday, August 17th. Bank of America increased their price target on Intuit from $204.00 to $227.00 and gave the company a “buy” rating in a report on Monday, June 11th. BidaskClub downgraded Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Finally, Argus increased their price target on Intuit from $225.00 to $250.00 in a report on Tuesday, July 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $213.22.
In related news, EVP Henry Tayloe Stansbury sold 3,941 shares of the firm’s stock in a transaction on Monday, June 25th. The stock was sold at an average price of $202.21, for a total value of $796,909.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $209.41, for a total value of $20,941,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,183 shares of company stock valued at $52,562,230. 5.59% of the stock is owned by company insiders.
Shares of Intuit stock opened at $219.86 on Friday. The firm has a market capitalization of $56.57 billion, a PE ratio of 48.53, a P/E/G ratio of 2.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.14. Intuit Inc. has a 1 year low of $140.07 and a 1 year high of $221.12.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.09. The business had revenue of $988.00 million for the quarter, compared to the consensus estimate of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. Intuit’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. sell-side analysts anticipate that Intuit Inc. will post 5.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Wednesday, October 10th will be paid a $0.47 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, October 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.86%. Intuit’s dividend payout ratio (DPR) is presently 34.44%.
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 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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