Intuit Inc. (INTU) Shares Sold by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,386 shares of the software maker’s stock after selling 887 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Intuit were worth $13,066,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in INTU. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Intuit by 4.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,136 shares of the software maker’s stock valued at $4,539,000 after buying an additional 1,519 shares during the period. Advisory Services Network LLC acquired a new stake in Intuit during the first quarter valued at $919,000. Canada Pension Plan Investment Board boosted its stake in Intuit by 80.3% in the first quarter. Canada Pension Plan Investment Board now owns 254,117 shares of the software maker’s stock valued at $29,475,000 after buying an additional 113,200 shares during the period. Wells Fargo & Company MN boosted its stake in Intuit by 7.5% in the first quarter. Wells Fargo & Company MN now owns 813,446 shares of the software maker’s stock valued at $94,352,000 after buying an additional 56,894 shares during the period. Finally, Rockefeller Financial Services Inc. boosted its stake in Intuit by 3.3% in the first quarter. Rockefeller Financial Services Inc. now owns 3,305 shares of the software maker’s stock valued at $383,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.
Shares of Intuit Inc. (NASDAQ INTU) opened at 138.01 on Wednesday. The company has a 50 day moving average price of $135.60 and a 200 day moving average price of $129.04. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 37.10 and a beta of 1.15.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842 million during the quarter, compared to analysts’ expectations of $808.82 million. During the same period in the prior year, the company earned $0.08 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post $4.97 EPS for the current 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 issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, October 6th. Intuit’s dividend payout ratio is presently 36.56%.
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A number of research firms have recently commented on INTU. Citigroup Inc. cut Intuit from a “buy” rating to a “neutral” rating and lowered their target price for the company from $148.00 to $141.00 in a research note on Monday, June 26th. Zacks Investment Research upgraded Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, May 29th. Barclays PLC restated an “equal weight” rating on shares of Intuit in a research note on Sunday, May 28th. CIBC raised their target price on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, May 26th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $150.00 target price on shares of Intuit in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $137.59.
In other news, Chairman Scott D. Cook sold 182,037 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $135.20, for a total transaction of $24,611,402.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. Insiders sold 481,827 shares of company stock valued at $65,231,949 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.
Intuit Company Profile
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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