Parsons Capital Management Inc. RI decreased its stake in Intuit Inc. (NASDAQ:INTU) by 3.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,125 shares of the software maker’s stock after selling 767 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Intuit were worth $3,003,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in INTU. Janus Henderson Group PLC boosted its position in shares of Intuit by 612.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after purchasing an additional 2,236,974 shares during the period. Koch Industries Inc. boosted its position in shares of Intuit by 38,665.6% in the 2nd quarter. Koch Industries Inc. now owns 1,438,591 shares of the software maker’s stock valued at $1,428,000 after purchasing an additional 1,434,880 shares during the period. Fundsmith LLP acquired a new position in shares of Intuit in the 2nd quarter valued at $144,464,000. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Intuit in the 2nd quarter valued at $136,099,000. Finally, Harbour Capital Advisors LLC boosted its position in shares of Intuit by 21,749.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 887,304 shares of the software maker’s stock valued at $6,681,000 after purchasing an additional 883,243 shares during the period. Institutional investors and hedge funds own 86.10% of the company’s stock.
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Intuit Inc. (NASDAQ INTU) opened at $154.89 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.32. Intuit Inc. has a one year low of $109.92 and a one year high of $155.37. The firm has a market capitalization of $39,087.44, a P/E ratio of 40.66, a P/E/G ratio of 2.70 and a beta of 1.18.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Zacks’ 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 the consensus estimate of $808.82 million. During the same period last year, the business earned $0.08 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. research analysts predict that Intuit Inc. will post 4.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.01%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is 41.94%.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $145.19, for a total value of $26,618,118.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the firm’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 value of $257,108.60. Following the completion of the sale, the executive vice president now directly owns 2,675 shares in the company, valued at approximately $385,735. The disclosure for this sale can be found here. Insiders sold a total of 1,084,194 shares of company stock worth $151,162,540 in the last ninety days. Insiders own 5.70% of the company’s stock.
A number of equities analysts recently weighed in on the company. UBS AG assumed coverage on Intuit in a research report on Thursday, November 9th. They issued a “neutral” rating and a $152.00 price target for the company. First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective for the company in a research note on Wednesday, August 23rd. William Blair assumed coverage on Intuit in a research note on Tuesday, September 19th. They issued an “outperform” rating for the company. Wells Fargo & Company raised Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price objective for the company in a research note on Thursday, September 21st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $145.00 price objective on shares of Intuit in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. Intuit presently has a consensus rating of “Hold” and an average target price of $144.74.
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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