Manchester Capital Management LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3,422.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,121 shares of the software maker’s stock after buying an additional 4,004 shares during the period. Manchester Capital Management LLC’s holdings in Intuit were worth $586,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Great West Life Assurance Co. Can raised its holdings in Intuit by 1.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 175,641 shares of the software maker’s stock worth $24,960,000 after buying an additional 3,331 shares during the period. Nordea Investment Management AB raised its holdings in Intuit by 26.9% during the 3rd quarter. Nordea Investment Management AB now owns 55,931 shares of the software maker’s stock worth $7,950,000 after buying an additional 11,840 shares during the period. TD Asset Management Inc. raised its holdings in Intuit by 21.3% during the 3rd quarter. TD Asset Management Inc. now owns 841,238 shares of the software maker’s stock worth $119,574,000 after buying an additional 147,673 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Intuit during the 3rd quarter worth approximately $3,249,000. Finally, Mogy Joel R Investment Counsel Inc. raised its holdings in Intuit by 4.2% during the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 67,255 shares of the software maker’s stock worth $9,560,000 after buying an additional 2,680 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.
In related news, EVP Henry Tayloe Stansbury sold 28,048 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $146.19, for a total value of $4,100,337.12. Following the completion of the transaction, the executive vice president now directly owns 28,940 shares of the company’s stock, valued at $4,230,738.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark J. Flournoy sold 1,868 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $142.31, for a total transaction of $265,835.08. Following the completion of the transaction, the vice president now directly owns 1,713 shares of the company’s stock, valued at $243,777.03. The disclosure for this sale can be found here. Insiders sold 619,922 shares of company stock valued at $88,387,321 over the last three months. 5.70% of the stock is owned by company insiders.
Intuit Inc. (NASDAQ INTU) opened at $153.91 on Monday. The firm has a market cap of $39,350.00, a P/E ratio of 41.15, a PEG ratio of 2.76 and a beta of 1.18. Intuit Inc. has a 52 week low of $111.48 and a 52 week high of $158.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.73 and a current ratio of 0.67.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $855.74 million. During the same period last year, the business earned $0.06 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. equities research analysts predict that Intuit Inc. will post 3.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Wednesday, January 10th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.56 annualized dividend and a dividend yield of 1.01%. Intuit’s dividend payout ratio is presently 41.27%.
INTU has been the topic of several research analyst reports. Raymond James Financial, Inc. downgraded shares of Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Monday, August 28th. Oppenheimer Holdings, Inc. raised their target price on shares of Intuit from $146.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Citigroup Inc. raised their target price on shares of Intuit to $170.00 in a report on Tuesday, November 21st. Finally, Moffett Nathanson initiated coverage on shares of Intuit in a research note on Thursday, September 7th. They set a “buy” rating and a $150.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Intuit currently has a consensus rating of “Hold” and an average target price of $152.89.
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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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