Lazard Asset Management LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 569.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 405,036 shares of the software maker’s stock after purchasing an additional 344,575 shares during the period. Lazard Asset Management LLC owned 0.16% of Intuit worth $53,792,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in INTU. TD Asset Management Inc. grew its holdings in Intuit by 70.4% during the first quarter. TD Asset Management Inc. now owns 294,791 shares of the software maker’s stock valued at $34,193,000 after purchasing an additional 121,816 shares during the last quarter. Ardevora Asset Management LLP grew its holdings in Intuit by 0.7% during the first quarter. Ardevora Asset Management LLP now owns 190,600 shares of the software maker’s stock valued at $22,108,000 after purchasing an additional 1,300 shares during the last quarter. Wedbush Securities Inc. acquired a new position in Intuit during the first quarter valued at approximately $308,000. Neuburgh Advisers LLC grew its holdings in Intuit by 39.0% during the first quarter. Neuburgh Advisers LLC now owns 11,628 shares of the software maker’s stock valued at $1,349,000 after purchasing an additional 3,264 shares during the last quarter. Finally, Pax World Management LLC acquired a new position in Intuit during the first quarter valued at approximately $205,000. Institutional investors own 85.96% of the company’s stock.
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Several equities analysts have commented on INTU shares. Royal Bank Of Canada increased their price target on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. Stifel Nicolaus increased their price target on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. Deutsche Bank AG increased their price target on Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Bank of America Corporation increased their price target on Intuit from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, Citigroup Inc. increased their price target on Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $140.24.
In other news, EVP Daniel A. Wernikoff sold 15,684 shares of the stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO R Neil Williams sold 184,585 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the sale, the chief financial officer now directly owns 64,620 shares in the company, valued at $9,118,528.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,585 shares of company stock worth $122,643,706. 5.70% of the stock is currently owned by insiders.
Intuit Inc. (NASDAQ:INTU) traded up 1.26% during midday trading on Tuesday, reaching $145.61. 347,928 shares of the company’s stock were exchanged. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $145.64. The company has a market cap of $37.13 billion, a P/E ratio of 39.14 and a beta of 1.15. The company has a 50 day moving average price of $138.61 and a 200 day moving average price of $131.40.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same period in the prior year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Intuit Inc. will post $4.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is 36.56%.
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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