UMB Bank N A MO reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 120,050 shares of the software maker’s stock after selling 11,641 shares during the period. Intuit accounts for 0.8% of UMB Bank N A MO’s portfolio, making the stock its 26th biggest position. UMB Bank N A MO’s holdings in Intuit were worth $27,300,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Qube Research & Technologies Ltd boosted its stake in shares of Intuit by 160.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after buying an additional 373 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Intuit by 0.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,974,690 shares of the software maker’s stock valued at $607,744,000 after buying an additional 16,086 shares during the last quarter. Morgan Stanley boosted its stake in shares of Intuit by 25.1% during the 2nd quarter. Morgan Stanley now owns 2,623,888 shares of the software maker’s stock valued at $536,074,000 after buying an additional 525,743 shares during the last quarter. Chartwell Investment Partners LLC purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $3,159,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Intuit by 1.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 48,862 shares of the software maker’s stock valued at $9,983,000 after buying an additional 480 shares during the last quarter. Institutional investors own 87.20% of the company’s stock.
In other Intuit news, CEO Brad D. Smith sold 254,325 shares of the 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 sale, the chief executive officer now directly owns 415,445 shares of the company’s stock, valued at $94,580,208.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis D. Powell sold 4,554 shares of the stock in a transaction 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 directly owns 4,083 shares in the company, valued at $878,049.15. The disclosure for this sale can be found here. Insiders sold 622,236 shares of company stock worth $137,883,071 over the last ninety days. 5.59% of the stock is owned by corporate insiders.
NASDAQ INTU traded up $2.16 during trading hours on Monday, hitting $213.26. The company had a trading volume of 35,767 shares, compared to its average volume of 1,736,819. Intuit Inc. has a fifty-two week low of $145.83 and a fifty-two week high of $231.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $54.61 billion, a PE ratio of 47.08, a P/E/G ratio of 2.42 and a beta of 1.20.
Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $952.67 million. During the same period last year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 5.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 10th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This is a positive change from Intuit’s previous quarterly dividend of $0.39. This represents a $1.88 annualized dividend and a yield of 0.88%. Intuit’s dividend payout ratio (DPR) is currently 41.50%.
Several research firms have recently commented on INTU. Argus increased their target price on Intuit from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 4th. Evercore ISI raised Intuit from an “in-line” rating to an “outperform” rating in a research report on Wednesday, October 3rd. Credit Suisse Group upped their price target on Intuit from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Oppenheimer upped their price target on Intuit from $224.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Finally, Barclays upped their price target on Intuit from $204.00 to $219.00 and gave the company an “equal weight” rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $224.29.
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.
Recommended Story: What is insider trading?
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.