Canal Capital Management LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,698 shares of the software maker’s stock, valued at approximately $969,000.
A number of other large investors also recently made changes to their positions in INTU. West Oak Capital LLC acquired a new stake in Intuit during the 3rd quarter worth $27,000. Manchester Financial Inc. purchased a new position in Intuit during the 4th quarter worth $30,000. Cerebellum GP LLC purchased a new position in Intuit during the 3rd quarter worth $32,000. NewSquare Capital LLC purchased a new position in Intuit during the 2nd quarter worth $42,000. Finally, Doyle Wealth Management purchased a new position in Intuit during the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.
Several research analysts have issued reports on the stock. Credit Suisse Group reissued an “outperform” rating and set a $300.00 price objective on shares of Intuit in a research report on Thursday, January 2nd. BidaskClub raised shares of Intuit from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Zacks Investment Research downgraded shares of Intuit from a “buy” rating to a “hold” rating and set a $280.00 price objective on the stock. in a research report on Monday, December 30th. ValuEngine downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, KeyCorp raised their price objective on shares of Intuit from $305.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $284.17.
In related news, Chairman Scott D. Cook sold 112,022 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $266.16, for a total transaction of $29,815,775.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Brad D. Smith sold 227,450 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $257.72, for a total transaction of $58,618,414.00. Following the sale, the chairman now directly owns 549,985 shares in the company, valued at approximately $141,742,134.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 527,369 shares of company stock worth $136,763,551. 4.09% of the stock is owned by insiders.
Shares of NASDAQ:INTU traded up $2.16 during midday trading on Tuesday, hitting $285.01. The stock had a trading volume of 1,635,981 shares, compared to its average volume of 1,242,014. The company has a market capitalization of $73.63 billion, a PE ratio of 47.58, a P/E/G ratio of 2.86 and a beta of 1.06. The stock has a 50 day moving average price of $266.10 and a two-hundred day moving average price of $269.08. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. Intuit Inc. has a 1 year low of $207.69 and a 1 year high of $295.77.
Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.16. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Intuit had a net margin of 22.79% and a return on equity of 42.04%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, equities analysts expect that Intuit Inc. will post 6.3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, January 10th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is currently 37.99%.
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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