Logan Capital Management Inc. Has $2,045,000 Position in Intuit Inc. (INTU)
Logan Capital Management Inc. continued to hold its stake in shares of Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,398 shares of the software maker’s stock at the close of the 2nd quarter. Logan Capital Management Inc.’s holdings in Intuit were worth $2,045,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Intuit by 19.0% during the 2nd quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock worth $333,124,000 after buying an additional 400,406 shares in the last quarter. AHL Partners LLP increased its stake in shares of Intuit by 16.0% during the second quarter. AHL Partners LLP now owns 71,834 shares of the software maker’s stock valued at $9,541,000 after buying an additional 9,887 shares during the period. Sun Life Financial INC increased its stake in shares of Intuit by 11,720.0% during the second quarter. Sun Life Financial INC now owns 1,773 shares of the software maker’s stock valued at $235,000 after buying an additional 1,758 shares during the period. Tudor Investment Corp ET AL raised its holdings in shares of Intuit by 49.6% in the second quarter. Tudor Investment Corp ET AL now owns 16,884 shares of the software maker’s stock valued at $2,242,000 after acquiring an additional 5,598 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Intuit by 30.9% in the second quarter. HighTower Advisors LLC now owns 10,901 shares of the software maker’s stock valued at $1,447,000 after acquiring an additional 2,576 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ INTU) traded up 0.21% during trading on Tuesday, hitting $142.04. 384,757 shares of the company traded hands. The stock has a market capitalization of $36.22 billion, a PE ratio of 38.18 and a beta of 1.15. The company has a 50-day moving average of $140.74 and a 200-day moving average of $132.77. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $146.72.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping the 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 business had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same quarter last year, the company earned $0.08 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post $4.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors 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 yield of 1.10%. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is 36.56%.
A number of analysts recently weighed in on the stock. Raymond James Financial, Inc. lowered shares of Intuit from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 27th. UBS AG cut shares of Intuit to an “underperform” rating in a report on Wednesday, September 27th. Wells Fargo & Company raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a research report on Thursday, September 21st. Argus started coverage on shares of Intuit in a research report on Wednesday, September 20th. They set a “buy” rating and a $165.00 target price on the stock. Finally, William Blair started coverage on shares of Intuit in a report on Tuesday, September 19th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $142.74.
In other news, EVP Henry Tayloe Stansbury sold 1,783 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total transaction of $257,108.60. Following the completion of the sale, the executive vice president now owns 2,675 shares in the company, valued at approximately $385,735. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sasan K. Goodarzi sold 98,901 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $135.22, for a total transaction of $13,373,393.22. Following the sale, the executive vice president now owns 7,801 shares of the company’s stock, valued at approximately $1,054,851.22. The disclosure for this sale can be found here. Insiders sold 1,084,194 shares of company stock valued at $151,162,540 over the last ninety days. 5.70% of the stock is currently owned by corporate insiders.
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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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