Perigon Wealth Management LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 947 shares of the software maker’s stock after selling 52 shares during the period. Perigon Wealth Management LLC’s holdings in Intuit were worth $280,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Edgewood Management LLC boosted its stake in Intuit by 21.6% in the 1st quarter. Edgewood Management LLC now owns 5,973,509 shares of the software maker’s stock valued at $1,373,907,000 after buying an additional 1,059,259 shares in the last quarter. APG Asset Management N.V. boosted its position in Intuit by 382.2% during the first quarter. APG Asset Management N.V. now owns 1,144,206 shares of the software maker’s stock valued at $266,382,000 after buying an additional 906,936 shares during the period. Schroder Investment Management Group boosted its position in Intuit by 97.3% during the first quarter. Schroder Investment Management Group now owns 1,307,560 shares of the software maker’s stock valued at $313,972,000 after buying an additional 644,930 shares during the period. The Manufacturers Life Insurance Company boosted its position in Intuit by 142.7% during the first quarter. The Manufacturers Life Insurance Company now owns 709,334 shares of the software maker’s stock valued at $163,147,000 after buying an additional 417,084 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Intuit by 30.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,752,372 shares of the software maker’s stock valued at $518,148,000 after buying an additional 412,257 shares during the period. 86.12% of the stock is owned by institutional investors.
In other news, EVP James Alexander Chriss sold 337 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $291.10, for a total value of $98,100.70. Following the sale, the executive vice president now directly owns 220 shares in the company, valued at approximately $64,042. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kerry J. Mclean sold 18,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $287.09, for a total transaction of $5,167,620.00. Following the completion of the sale, the senior vice president now owns 23,399 shares in the company, valued at $6,717,618.91. The disclosure for this sale can be found here. Insiders own 4.09% of the company’s stock.
Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($0.11). The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3 billion. Intuit had a return on equity of 32.03% and a net margin of 19.50%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.55 EPS. As a group, equities analysts predict that Intuit Inc. will post 5.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Friday, July 10th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 37.99%.
Several analysts have issued reports on INTU shares. Wells Fargo & Co upped their price target on shares of Intuit from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Zacks Investment Research upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $265.00 target price for the company in a report on Monday, April 13th. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, June 5th. KeyCorp increased their target price on shares of Intuit from $285.00 to $315.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Finally, Guggenheim reiterated a “” rating and set a $320.00 price target (up previously from $300.00) on shares of Intuit in a report on Friday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $307.06.
Intuit Company Profile
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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