Capital Investment Counsel Inc purchased a new position in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 906 shares of the software maker’s stock, valued at approximately $206,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Oakworth Capital Inc. lifted its position in Intuit by 2,480.0% during the third quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock valued at $117,000 after acquiring an additional 496 shares during the last quarter. Fort L.P. purchased a new stake in Intuit during the second quarter valued at approximately $120,000. Qube Research & Technologies Ltd lifted its position in Intuit by 160.1% during the second quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after acquiring an additional 373 shares during the last quarter. Sun Life Financial INC lifted its position in Intuit by 243.8% during the second quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock valued at $135,000 after acquiring an additional 468 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Intuit during the second quarter valued at approximately $176,000. 87.17% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on INTU shares. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Credit Suisse Group raised their price target on shares of Intuit from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Guggenheim began coverage on shares of Intuit in a report on Tuesday, August 7th. They issued a “buy” rating and a $250.00 price target for the company. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, Barclays raised their price target on shares of Intuit from $204.00 to $219.00 and gave the stock an “equal weight” rating in a report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $224.29.
NASDAQ INTU opened at $211.00 on Thursday. The firm has a market capitalization of $52.46 billion, a price-to-earnings ratio of 44.67, a P/E/G ratio of 2.32 and a beta of 1.21. Intuit Inc. has a 12-month low of $150.43 and a 12-month high of $231.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.14 and a quick ratio of 1.14.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. The business had revenue of $988.00 million during the quarter, compared to analysts’ expectations of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 5.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Wednesday, October 10th were paid a $0.47 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Intuit’s previous quarterly dividend of $0.39. Intuit’s dividend payout ratio is presently 41.50%.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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