Intuit Inc. (INTU) Shares Bought by Cibc World Markets Corp
Cibc World Markets Corp grew its holdings in Intuit Inc. (NASDAQ:INTU) by 100.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,442 shares of the software maker’s stock after purchasing an additional 26,834 shares during the period. Cibc World Markets Corp’s holdings in Intuit were worth $7,098,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Intuit by 1,542.9% in the 1st quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after purchasing an additional 16,306,976 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Intuit by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Intuit by 7.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares in the last quarter. Morgan Stanley increased its holdings in shares of Intuit by 38.5% in the 1st quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after purchasing an additional 966,936 shares in the last quarter. Finally, Janus Capital Management LLC increased its holdings in shares of Intuit by 5.4% in the 1st quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after purchasing an additional 138,184 shares in the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.
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A number of analysts have commented on INTU shares. Barclays PLC reissued an “equal weight” rating on shares of Intuit in a report on Sunday, May 28th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Monday, May 29th. Citigroup Inc. lowered Intuit from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $148.00 to $141.00 in a report on Monday, June 26th. BidaskClub lowered Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective for the company in a report on Wednesday, August 23rd. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $142.74.
Intuit Inc. (INTU) opened at 146.32 on Monday. The stock has a market capitalization of $37.31 billion, a P/E ratio of 39.33 and a beta of 1.15. The stock has a 50 day moving average price of $138.84 and a 200 day moving average price of $131.54. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $146.72.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same period last year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post $4.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.07%. Intuit’s dividend payout ratio (DPR) is 36.56%.
In other news, CFO R Neil Williams sold 184,585 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the sale, the chief financial officer now directly owns 64,620 shares in the company, valued at approximately $9,118,528.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total value of $26,618,118.27. The disclosure for this sale can be found here. Insiders have sold a total of 1,056,234 shares of company stock worth $147,058,222 over the last 90 days. Insiders own 5.70% of the company’s stock.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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