Great Lakes Advisors LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 862 shares of the software maker’s stock, valued at approximately $229,000.
Several other institutional investors have also recently made changes to their positions in INTU. Nuveen Asset Management LLC lifted its holdings in shares of Intuit by 4,951.7% in the second quarter. Nuveen Asset Management LLC now owns 4,988,508 shares of the software maker’s stock valued at $1,303,647,000 after buying an additional 4,889,759 shares during the period. Invesco Ltd. lifted its holdings in shares of Intuit by 96.3% during the second quarter. Invesco Ltd. now owns 6,001,471 shares of the software maker’s stock valued at $1,568,367,000 after purchasing an additional 2,944,291 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Intuit by 28.7% during the second quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock valued at $1,241,949,000 after purchasing an additional 1,060,033 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Intuit by 38.0% during the second quarter. JPMorgan Chase & Co. now owns 2,812,304 shares of the software maker’s stock valued at $725,545,000 after purchasing an additional 774,853 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Intuit by 2.5% during the second quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock valued at $5,401,090,000 after purchasing an additional 503,291 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.
INTU has been the subject of several analyst reports. KeyCorp upped their target price on Intuit from $300.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America increased their price objective on Intuit from $264.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. UBS Group increased their price objective on Intuit from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Oppenheimer upped their target price on Intuit from $269.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley upped their target price on Intuit from $244.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $277.58.
INTU opened at $256.55 on Tuesday. The stock’s 50 day moving average price is $261.11 and its two-hundred day moving average price is $266.23. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.18. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $295.77. The firm has a market capitalization of $67.39 billion, a P/E ratio of 45.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.16. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Intuit had a return on equity of 42.04% and a net margin of 22.79%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. As a group, analysts anticipate that Intuit Inc. will post 6.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, January 10th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. Intuit’s dividend payout ratio (DPR) is presently 37.99%.
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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