Mar Vista Investment Partners LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 663,547 shares of the software maker’s stock after acquiring an additional 11,497 shares during the quarter. Intuit comprises about 3.9% of Mar Vista Investment Partners LLC’s portfolio, making the stock its 9th largest holding. Mar Vista Investment Partners LLC owned approximately 0.26% of Intuit worth $94,317,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Exane Derivatives bought a new position in shares of Intuit during the third quarter worth $105,000. Captrust Financial Advisors bought a new position in shares of Intuit during the second quarter worth $108,000. Shine Investment Advisory Services Inc. bought a new position in shares of Intuit during the second quarter worth $123,000. Harvest Fund Management Co. Ltd bought a new position in shares of Intuit during the second quarter worth $140,000. Finally, ETF Managers Group LLC bought a new position in shares of Intuit during the second quarter worth $140,000. Hedge funds and other institutional investors own 86.10% of the company’s stock.
INTU has been the subject of a number of research reports. Jefferies Group LLC began coverage on shares of Intuit in a research report on Thursday, August 24th. They set a “buy” rating and a $157.00 target price for the company. Oppenheimer Holdings, Inc. increased their price objective on shares of Intuit from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. UBS AG began coverage on shares of Intuit in a research report on Thursday, November 9th. They set a “neutral” rating and a $152.00 price objective for the company. Bank of America Corporation reiterated a “buy” rating and set a $145.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $155.00 price objective (up previously from $150.00) on shares of Intuit in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $147.16.
In related news, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Neil Williams sold 184,585 shares of Intuit stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the completion of the sale, the chief financial officer now owns 64,620 shares of the company’s stock, valued at $9,118,528.20. The disclosure for this sale can be found here. Insiders sold a total of 1,084,194 shares of company stock worth $151,162,540 over the last 90 days. Company insiders own 5.70% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded down $1.35 during trading hours on Thursday, hitting $153.86. 1,659,000 shares of the stock were exchanged, compared to its average volume of 1,476,565. Intuit Inc. has a twelve month low of $109.96 and a twelve month high of $156.46. The company has a market cap of $39,900.00, a PE ratio of 41.17, a P/E/G ratio of 2.73 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.32.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same period last year, the business earned $0.08 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. equities analysts expect that Intuit Inc. will post 4.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were issued a $0.39 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, October 6th. Intuit’s dividend payout ratio (DPR) is currently 41.82%.
Intuit Company Profile
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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