PDT Partners LLC Purchases New Position in Intuit Inc. (INTU)
PDT Partners LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 42,689 shares of the software maker’s stock, valued at approximately $5,670,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in Intuit by 6.9% in the 1st quarter. Private Advisor Group LLC now owns 3,841 shares of the software maker’s stock worth $448,000 after purchasing an additional 249 shares during the period. Aberdeen Asset Management PLC UK lifted its stake in Intuit by 17.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 50,206 shares of the software maker’s stock worth $5,823,000 after purchasing an additional 7,581 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in Intuit by 159.9% in the first quarter. Comgest Global Investors S.A.S. now owns 429,576 shares of the software maker’s stock worth $49,826,000 after purchasing an additional 264,300 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Intuit in the first quarter worth about $1,599,000. Finally, NN Investment Partners Holdings N.V. lifted its stake in Intuit by 9.8% in the first quarter. NN Investment Partners Holdings N.V. now owns 29,847 shares of the software maker’s stock worth $3,463,000 after purchasing an additional 2,673 shares during the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the company. Argus began coverage on Intuit in a research report on Wednesday, September 20th. They set a “buy” rating and a $165.00 target price for the company. Wells Fargo & Company upgraded Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price target on the stock in a report on Thursday, September 21st. UBS AG downgraded Intuit to an “underperform” rating in a report on Wednesday, September 27th. Raymond James Financial, Inc. lowered Intuit from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 27th. Finally, William Blair started coverage on Intuit in a research note on Tuesday, September 19th. They set 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 stock. Intuit has an average rating of “Hold” and an average target price of $142.74.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $145.19, for a total transaction of $26,618,118.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 28,048 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $146.19, for a total value of $4,100,337.12. Following the sale, the executive vice president now owns 28,940 shares in the company, valued at approximately $4,230,738.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,084,194 shares of company stock valued at $151,162,540. 5.70% of the stock is currently owned by company insiders.
Shares of Intuit Inc. (NASDAQ INTU) opened at 142.19 on Monday. The company has a market cap of $36.25 billion, a PE ratio of 38.22 and a beta of 1.15. The firm’s 50-day moving average price is $138.84 and its 200 day moving average price is $131.54. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $146.72.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date of this dividend is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. 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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