Intuit Inc. (NASDAQ:INTU) Position Lowered by Pioneer Investment Management Inc.
Pioneer Investment Management Inc. cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 125,367 shares of the software maker’s stock after selling 488 shares during the period. Pioneer Investment Management Inc.’s holdings in Intuit were worth $16,650,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Alta Capital Management LLC increased its position in shares of Intuit by 3.5% in the first quarter. Alta Capital Management LLC now owns 128,474 shares of the software maker’s stock worth $14,901,000 after buying an additional 4,354 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Intuit during the first quarter worth $224,000. Nisa Investment Advisors LLC increased its position in shares of Intuit by 1.0% in the first quarter. Nisa Investment Advisors LLC now owns 113,471 shares of the software maker’s stock worth $13,162,000 after buying an additional 1,100 shares during the last quarter. DnB Asset Management AS increased its position in shares of Intuit by 21.5% in the first quarter. DnB Asset Management AS now owns 25,423 shares of the software maker’s stock worth $2,949,000 after buying an additional 4,500 shares during the last quarter. Finally, Palisade Capital Management LLC NJ increased its position in shares of Intuit by 3.2% in the first quarter. Palisade Capital Management LLC NJ now owns 5,315 shares of the software maker’s stock worth $616,000 after buying an additional 165 shares during the last quarter. 85.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 135.16 on Friday. The company has a market capitalization of $34.63 billion, a PE ratio of 38.84 and a beta of 1.15. The stock’s 50 day moving average price is $135.14 and its 200-day moving average price is $127.61. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $143.81.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm posted $3.43 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post $4.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.01%. Intuit’s payout ratio is 39.19%.
A number of research analysts recently weighed in on the company. Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and cut their price objective for the company from $148.00 to $141.00 in a research note on Monday, June 26th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Monday, May 29th. Barclays PLC reissued an “equal weight” rating on shares of Intuit in a research note on Sunday, May 28th. CIBC raised their price objective on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, May 26th. Finally, Stifel Nicolaus raised their price objective on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $135.63.
In other news, EVP Henry Tayloe Stansbury sold 3,742 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $137.92, for a total value of $516,096.64. Following the completion of the sale, the executive vice president now directly owns 4,580 shares of the company’s stock, valued at $631,673.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 74,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $139.46, for a total value of $10,327,291.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,265 shares of company stock valued at $21,085,104. 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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.