Trillium Asset Management LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 35,149 shares of the software maker’s stock after buying an additional 149 shares during the period. Trillium Asset Management LLC’s holdings in Intuit were worth $4,668,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in INTU. Flinton Capital Management LLC boosted its position in Intuit by 39.0% in the first quarter. Flinton Capital Management LLC now owns 9,576 shares of the software maker’s stock worth $1,111,000 after buying an additional 2,688 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Intuit by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 718,580 shares of the software maker’s stock worth $83,348,000 after buying an additional 7,343 shares during the period. Whittier Trust Co. boosted its position in Intuit by 5.2% in the first quarter. Whittier Trust Co. now owns 2,903 shares of the software maker’s stock worth $337,000 after buying an additional 143 shares during the period. Shell Asset Management Co. boosted its position in Intuit by 3.8% in the first quarter. Shell Asset Management Co. now owns 46,600 shares of the software maker’s stock worth $5,405,000 after buying an additional 1,710 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd boosted its position in Intuit by 2,125.0% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock worth $5,162,000 after buying an additional 42,500 shares during the period. 85.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 138.89 on Tuesday. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $143.81. The company has a market cap of $35.59 billion, a price-to-earnings ratio of 39.91 and a beta of 1.15. The firm has a 50 day moving average price of $135.00 and a 200-day moving average price of $128.02.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.03. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $3.43 earnings per share. Equities research analysts anticipate that Intuit Inc. will post $4.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a $0.34 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.36 annualized dividend and a dividend yield of 0.98%. Intuit’s payout ratio is presently 39.19%.
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A number of research firms have recently commented on INTU. CIBC boosted their price target on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Barclays PLC lowered their price target on Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, April 24th. Credit Suisse Group boosted their price target on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, May 25th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target for the company in a report on Monday, May 29th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $141.00 price target (up previously from $125.00) on shares of Intuit in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $135.63.
In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total value of $253,127.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock worth $21,085,104 over the last three months. 5.70% of the stock is owned by insiders.
About Intuit
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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