Carnegie Capital Asset Management LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU – Get Rating) by 11.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,670 shares of the software maker’s stock after selling, 226 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Intuit were worth $803,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in Intuit by 8.6% in the fourth quarter. Brown Advisory Inc. Now owns 3,720,073 shares of the software maker’s stock valued at $2,392,825,000 after purchasing an additional 295,602 shares during the last quarter. Liontrust Investment Partners LLP purchased a new stake in Intuit in the third quarter valued at $181,491,000. Davidson Investment Advisors raised its position in shares of Intuit by 0.9% in the fourth quarter. Davidson Investment Advisors now owns 30,489 shares of the software maker’s stock worth $19,611,000 after acquiring an additional 257 shares during the period. Sycomore Asset Management acquired a new position in shares of Intuit in the fourth quarter worth about $5,832,000. Finally, Myriad Asset Management Ltd. acquired a new position in shares of Intuit in the fourth quarter worth about $917,000. 83.42% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. William Blair reiterated an “outperform rating on shares of Intuit in a research report on Wednesday, May 25th. JPMorgan Chase & Co. decreased their price objective on shares of Intuit from $750.00 to $640.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Edward Jones upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Friday, March 11th. Jefferies Financial Group reduced their price target on shares of Intuit from $790.00 to $700.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Finally, BMO Capital Markets reduced their price target on shares of Intuit from $550.00 to $475.00 in a research report on Wednesday, May 25th. One equities research analyst has rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $562.56.
In other Intuit news, EVP James Alexander Chriss sold 984 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $386.29, for a total transaction of $380,109.36. Following the sale, the executive vice president now directly owns 343 shares in the company, valued at approximately $132,497.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.27% of the company’s stock.
Intuit stock opened at $400.75 on Friday. The firm has a 50 day simple moving average of $402.45 and a 200-day simple moving average of $489.38. Intuit Inc. has a 1-year low of $339.36 and a 1-year high of $716.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $113.04 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15.
Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings data on Tuesday, May 24th. The software maker reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $0.07. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Intuit had a net margin of 19.44% and a return on equity of 20.77%. The firm’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the company posted $5.45 EPS. Equities analysts expect that Intuit Inc. will post 8.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Monday, July 11th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, July 8th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is currently 30.84%.
About Intuit (Get Rating)
Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProConnect.
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