Intuit Inc. (INTU) Stake Maintained by First Manhattan Co.
First Manhattan Co. maintained its position in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,800 shares of the software maker’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Intuit were worth $371,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Flinton Capital Management LLC increased its position in Intuit by 39.0% in the first quarter. Flinton Capital Management LLC now owns 9,576 shares of the software maker’s stock worth $1,111,000 after buying an additional 2,688 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Intuit by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 718,580 shares of the software maker’s stock worth $83,348,000 after buying an additional 7,343 shares during the last quarter. Whittier Trust Co. increased its position in Intuit by 5.2% in the first quarter. Whittier Trust Co. now owns 2,903 shares of the software maker’s stock worth $337,000 after buying an additional 143 shares during the last quarter. Shell Asset Management Co. increased its position in Intuit by 3.8% in the first quarter. Shell Asset Management Co. now owns 46,600 shares of the software maker’s stock worth $5,405,000 after buying an additional 1,710 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd increased its position in Intuit by 2,125.0% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock worth $5,162,000 after buying an additional 42,500 shares during the last quarter. 85.57% of the stock is owned by institutional investors.
Intuit Inc. (INTU) opened at 136.82 on Thursday. The company has a market capitalization of $35.06 billion, a P/E ratio of 39.32 and a beta of 1.15. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The company’s 50-day moving average is $135.29 and its 200 day moving average is $127.56.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.43 earnings per share. Analysts predict that Intuit Inc. will post $4.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a $0.34 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. Intuit’s dividend payout ratio (DPR) is currently 39.19%.
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INTU has been the subject of a number of analyst reports. BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Barclays PLC reaffirmed a “hold” rating and set a $130.00 price objective on shares of Intuit in a report on Friday, April 28th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $141.00 price objective (up from $125.00) on shares of Intuit in a report on Thursday, May 25th. Benchmark Co. initiated coverage on shares of Intuit in a report on Thursday, April 27th. They set a “buy” rating and a $140.00 price objective for the company. Finally, Zacks Investment Research raised shares of 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $135.63.
In other news, EVP Daniel A. Wernikoff sold 15,684 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 in the last three months. Company 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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