HighPoint Advisor Group LLC held its position in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,175 shares of the software maker’s stock at the end of the 2nd quarter. HighPoint Advisor Group LLC’s holdings in Intuit were worth $708,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC increased its holdings in Intuit by 12.8% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 65,609 shares of the software maker’s stock valued at $8,714,000 after purchasing an additional 7,436 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in Intuit during the 2nd quarter valued at $160,000. Ameritas Investment Partners Inc. increased its holdings in Intuit by 1.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,290 shares of the software maker’s stock valued at $1,366,000 after purchasing an additional 105 shares in the last quarter. Cypress Capital Group increased its holdings in Intuit by 262.9% during the 2nd quarter. Cypress Capital Group now owns 17,251 shares of the software maker’s stock valued at $2,291,000 after purchasing an additional 12,497 shares in the last quarter. Finally, Nomura Holdings Inc. increased its holdings in Intuit by 119.5% during the 2nd quarter. Nomura Holdings Inc. now owns 40,828 shares of the software maker’s stock valued at $5,422,000 after purchasing an additional 22,226 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.
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A number of equities research analysts recently weighed in on the company. Argus assumed coverage on Intuit in a report on Wednesday, September 20th. They set a “buy” rating and a $165.00 price target for the company. Wells Fargo & Company raised Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price target for the company in a report on Thursday, September 21st. UBS AG cut Intuit to an “underperform” rating in a report on Wednesday, September 27th. Raymond James Financial, Inc. cut Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. Finally, William Blair assumed coverage on Intuit in a report on Tuesday, September 19th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $142.74.
Intuit Inc. (NASDAQ:INTU) traded down 0.10% during midday trading on Friday, hitting $145.71. The stock had a trading volume of 313,702 shares. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $146.99. The stock has a market cap of $37.15 billion, a price-to-earnings ratio of 39.17 and a beta of 1.15. The company has a 50-day moving average of $142.36 and a 200-day moving average of $133.88.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. Equities research analysts forecast that Intuit Inc. will post $4.95 EPS for the current year.
The business also recently disclosed 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. This represents a $1.56 dividend on an annualized basis and a yield of 1.07%. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is presently 41.94%.
In related news, VP Mark J. Flournoy sold 1,868 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $142.31, for a total value of $265,835.08. Following the completion of the sale, the vice president now directly owns 1,713 shares in the company, valued at $243,777.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R Neil Williams sold 184,585 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $141.11, for a total value of $26,046,789.35. Following the completion of the sale, the chief financial officer now owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The disclosure for this sale can be found here. Insiders sold 1,084,194 shares of company stock valued at $151,162,540 over the last 90 days. 5.70% of the stock is currently owned by company insiders.
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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