Penserra Capital Management LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,380 shares of the software maker’s stock after buying an additional 374 shares during the quarter. Penserra Capital Management LLC’s holdings in Intuit were worth $375,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Lindsell Train Ltd lifted its position in Intuit by 7.3% during the third quarter. Lindsell Train Ltd now owns 2,369,800 shares of the software maker’s stock worth $336,843,000 after buying an additional 162,000 shares in the last quarter. APG Asset Management N.V. raised its position in Intuit by 102.0% in the fourth quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock valued at $215,555,000 after purchasing an additional 828,387 shares during the period. Legal & General Group Plc raised its position in Intuit by 4.2% in the third quarter. Legal & General Group Plc now owns 1,274,857 shares of the software maker’s stock valued at $181,210,000 after purchasing an additional 51,879 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in Intuit by 10.0% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,127,074 shares of the software maker’s stock valued at $160,202,000 after purchasing an additional 102,305 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Intuit by 1.7% in the third quarter. Parametric Portfolio Associates LLC now owns 1,098,518 shares of the software maker’s stock valued at $156,143,000 after purchasing an additional 17,854 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded up $0.81 during trading on Thursday, hitting $171.47. The stock had a trading volume of 817,620 shares, compared to its average volume of 1,560,000. Intuit Inc. has a fifty-two week low of $114.80 and a fifty-two week high of $177.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $43,840.00, a P/E ratio of 45.12, a P/E/G ratio of 2.58 and a beta of 1.15.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.26 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. sell-side analysts forecast that Intuit Inc. will post 4.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Tuesday, April 10th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Monday, April 9th. Intuit’s dividend payout ratio is presently 41.05%.
Several equities research analysts recently issued reports on INTU shares. UBS Group reiterated a “neutral” rating and issued a $177.00 price objective (up previously from $170.00) on shares of Intuit in a report on Friday, February 23rd. Credit Suisse Group reiterated an “outperform” rating and issued a $185.00 price objective (up previously from $170.00) on shares of Intuit in a report on Tuesday, January 9th. Zacks Investment Research downgraded Intuit from a “hold” rating to a “sell” rating in a report on Monday, November 27th. Morgan Stanley boosted their target price on Intuit from $110.00 to $120.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 21st. Finally, Jefferies Group reissued a “buy” rating and set a $185.00 target price on shares of Intuit in a research note on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $166.53.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $155.03, for a total transaction of $28,422,114.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 259,205 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $171.72, for a total value of $44,510,682.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 751,826 shares of company stock valued at $122,449,540. 5.59% of the stock is owned by company 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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