Chartwell Investment Partners LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 22.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,686 shares of the software maker’s stock after acquiring an additional 3,225 shares during the period. Chartwell Investment Partners LLC’s holdings in Intuit were worth $5,238,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. State of Michigan Retirement System increased its holdings in Intuit by 11.7% during the second quarter. State of Michigan Retirement System now owns 66,648 shares of the software maker’s stock valued at $19,740,000 after buying an additional 6,964 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of Intuit in the 2nd quarter worth $413,000. Eads & Heald Wealth Management raised its holdings in Intuit by 1.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 4,758 shares of the software maker’s stock worth $1,409,000 after purchasing an additional 85 shares during the period. Malaga Cove Capital LLC purchased a new position in Intuit during the second quarter valued at $209,000. Finally, Pacer Advisors Inc. grew its holdings in Intuit by 91.7% during the second quarter. Pacer Advisors Inc. now owns 42,528 shares of the software maker’s stock valued at $12,596,000 after purchasing an additional 20,347 shares during the period. Institutional investors own 86.12% of the company’s stock.
A number of research analysts recently issued reports on INTU shares. KeyCorp boosted their price objective on Intuit from $285.00 to $315.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Morgan Stanley upped their price target on shares of Intuit from $277.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Bank of America raised their price objective on shares of Intuit from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Zacks Investment Research raised 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. Finally, Oppenheimer reissued a “buy” rating and set a $308.00 price target on shares of Intuit in a report on Friday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $307.06.
NASDAQ INTU opened at $306.37 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $79.89 billion, a P/E ratio of 60.43, a P/E/G ratio of 3.90 and a beta of 1.04. Intuit Inc. has a one year low of $187.68 and a one year high of $314.73. The stock has a 50 day moving average price of $293.83 and a 200-day moving average price of $276.91.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing the consensus estimate of $4.60 by ($0.11). Intuit had a return on equity of 32.03% and a net margin of 19.50%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the firm posted $5.55 EPS. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 5.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Friday, July 10th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, July 9th. Intuit’s dividend payout ratio is 37.99%.
In related news, EVP James Alexander Chriss sold 337 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $291.10, for a total transaction of $98,100.70. Following the sale, the executive vice president now owns 220 shares in the company, valued at approximately $64,042. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kerry J. Mclean sold 18,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $287.09, for a total value of $5,167,620.00. Following the completion of the sale, the senior vice president now owns 23,399 shares of the company’s stock, valued at $6,717,618.91. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by company insiders.
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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