OMERS ADMINISTRATION Corp Has $1.26 Million Stake in Intuit Inc. (INTU)
OMERS ADMINISTRATION Corp lowered its stake in Intuit Inc. (NASDAQ:INTU) by 79.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,479 shares of the software maker’s stock after selling 37,721 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Intuit were worth $1,259,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after buying an additional 5 shares during the period. FineMark National Bank & Trust boosted its position in Intuit by 0.4% in the second quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock valued at $361,000 after buying an additional 11 shares during the period. Cue Financial Group Inc. boosted its position in Intuit by 0.3% in the second quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock valued at $930,000 after buying an additional 20 shares during the period. Harbour Capital Advisors LLC boosted its position in Intuit by 0.6% in the first quarter. Harbour Capital Advisors LLC now owns 4,061 shares of the software maker’s stock valued at $471,000 after buying an additional 25 shares during the period. Finally, Wetherby Asset Management Inc. boosted its position in Intuit by 0.4% in the second quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock valued at $935,000 after buying an additional 27 shares during the period. Institutional investors own 85.63% of the company’s stock.
Shares of Intuit Inc. (NASDAQ INTU) opened at 141.90 on Friday. The company’s 50-day moving average is $136.63 and its 200-day moving average is $129.85. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81. The firm has a market cap of $36.47 billion, a PE ratio of 38.15 and a beta of 1.15.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $842 million during the quarter, compared to the consensus estimate of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts forecast that Intuit Inc. will post $4.97 EPS for the current fiscal 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 issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is currently 36.56%.
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Several research analysts have commented on the stock. Citigroup Inc. cut shares of Intuit from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $148.00 to $141.00 in a report on Monday, June 26th. Credit Suisse Group boosted their price target on shares of Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, May 25th. Stifel Nicolaus boosted their price target on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, May 24th. Royal Bank Of Canada boosted their price target on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 24th. Finally, CIBC boosted their price target on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Intuit currently has an average rating of “Hold” and a consensus target price of $137.59.
In other Intuit news, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction on 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. In the last ninety days, insiders sold 487,177 shares of company stock valued at $65,982,286. 5.70% of the stock is currently owned by corporate insiders.
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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