Oppenheimer & Co. Inc. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,251 shares of the software maker’s stock after buying an additional 814 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Intuit were worth $2,157,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the business. Investec Asset Management North America Inc. grew its stake in shares of Intuit by 4.2% in the 1st quarter. Investec Asset Management North America Inc. now owns 12,108 shares of the software maker’s stock worth $3,165,000 after purchasing an additional 490 shares during the last quarter. Investec Asset Management LTD grew its stake in shares of Intuit by 2.4% in the 1st quarter. Investec Asset Management LTD now owns 1,057,282 shares of the software maker’s stock worth $276,384,000 after purchasing an additional 24,977 shares during the last quarter. Investec Asset Management PTY Ltd grew its stake in shares of Intuit by 2.1% in the 1st quarter. Investec Asset Management PTY Ltd now owns 3,870 shares of the software maker’s stock worth $1,012,000 after purchasing an additional 80 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Intuit in the 1st quarter worth approximately $2,036,000. Finally, Chicago Capital LLC increased its position in shares of Intuit by 33.0% in the first quarter. Chicago Capital LLC now owns 6,052 shares of the software maker’s stock worth $1,582,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 87.70% of the company’s stock.
NASDAQ INTU opened at $253.58 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $65.70 billion, a price-to-earnings ratio of 55.98, a price-to-earnings-growth ratio of 2.95 and a beta of 1.19. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $272.14.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.44. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 5.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 41.50%.
In other news, SVP Kerry J. Mclean sold 12,176 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $250.74, for a total value of $3,053,010.24. Following the completion of the sale, the senior vice president now directly owns 14,710 shares in the company, valued at $3,688,385.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark J. Flournoy sold 5,939 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the completion of the sale, the vice president now owns 3,626 shares of the company’s stock, valued at $910,778.68. The disclosure for this sale can be found here. Insiders sold 90,609 shares of company stock valued at $22,757,853 over the last quarter. Corporate insiders own 4.60% of the company’s stock.
Several research analysts have recently weighed in on INTU shares. Morgan Stanley raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 target price on the stock in a research report on Monday, February 4th. BNP Paribas started coverage on shares of Intuit in a research report on Friday, March 29th. They issued an “underperform” rating and a $200.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of Intuit from $274.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Oppenheimer lifted their target price on shares of Intuit from $254.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $212.00 target price on shares of Intuit in a research report on Friday, February 1st. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Intuit has a consensus rating of “Hold” and an average price target of $243.58.
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Intuit Company Profile
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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