New York State Common Retirement Fund Sells 79,708 Shares of Intuit Inc. (INTU)
New York State Common Retirement Fund trimmed its position in Intuit Inc. (NASDAQ:INTU) by 10.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 713,411 shares of the software maker’s stock after selling 79,708 shares during the period. New York State Common Retirement Fund owned 0.28% of Intuit worth $94,748,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Comgest Global Investors S.A.S. boosted its holdings in Intuit by 2.4% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock valued at $58,433,000 after purchasing an additional 10,400 shares during the period. QUANTRES ASSET MANAGEMENT Ltd boosted its holdings in Intuit by 2,125.0% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock valued at $5,162,000 after purchasing an additional 42,500 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in Intuit by 0.5% in the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after purchasing an additional 5 shares during the period. State Treasurer State of Michigan boosted its holdings in Intuit by 0.3% in the 2nd quarter. State Treasurer State of Michigan now owns 79,984 shares of the software maker’s stock valued at $10,623,000 after purchasing an additional 200 shares during the period. Finally, Eqis Capital Management Inc. boosted its holdings in Intuit by 5.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 3,164 shares of the software maker’s stock valued at $420,000 after purchasing an additional 169 shares during the period. 85.96% of the stock is owned by hedge funds and other institutional investors.
INTU has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price target for the company in a report on Wednesday, August 23rd. Royal Bank Of Canada reissued a “hold” rating and issued a $141.00 price target on shares of Intuit in a report on Thursday, August 24th. William Blair initiated coverage on shares of Intuit in a report on Tuesday. They issued an “outperform” rating for the company. Finally, Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a report on Monday, August 28th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $140.24.
In other Intuit news, VP Mark J. Flournoy sold 1,868 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $142.31, for a total transaction of $265,835.08. Following the completion of the transaction, the vice president now owns 1,713 shares in the company, valued at $243,777.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Scott D. Cook sold 182,037 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $135.20, for a total transaction of $24,611,402.40. The disclosure for this sale can be found here. Insiders have sold 888,585 shares of company stock valued at $122,643,706 in the last quarter. 5.70% of the stock is owned by company insiders.
Intuit Inc. (NASDAQ INTU) traded up 1.2303% during mid-day trading on Tuesday, reaching $145.5691. 343,983 shares of the company’s stock traded hands. The stock has a market capitalization of $37.12 billion, a PE ratio of 39.1315 and a beta of 1.15. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $145.61. The stock has a 50-day moving average price of $138.61 and a 200-day moving average price of $131.40.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The company had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. Intuit’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. Equities research analysts expect that Intuit Inc. will post $4.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, October 6th. This represents a $1.56 annualized dividend and a yield of 1.08%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is 36.56%.
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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