Intuit Inc. (NASDAQ:INTU) Holdings Cut by Strs Ohio

Strs Ohio lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 378,831 shares of the software maker’s stock after selling 583 shares during the period. Strs Ohio owned about 0.15% of Intuit worth $98,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. raised its holdings in shares of Intuit by 1.5% during the second quarter. Whittier Trust Co. now owns 2,927 shares of the software maker’s stock valued at $765,000 after buying an additional 42 shares during the last quarter. CX Institutional raised its holdings in shares of Intuit by 85.5% during the first quarter. CX Institutional now owns 102 shares of the software maker’s stock valued at $27,000 after buying an additional 47 shares during the last quarter. Hanseatic Management Services Inc. raised its holdings in shares of Intuit by 1.5% during the second quarter. Hanseatic Management Services Inc. now owns 3,468 shares of the software maker’s stock valued at $906,000 after buying an additional 50 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Intuit by 0.6% during the first quarter. Wealthfront Advisers LLC now owns 8,675 shares of the software maker’s stock valued at $2,268,000 after buying an additional 51 shares during the last quarter. Finally, Broadleaf Partners LLC raised its holdings in shares of Intuit by 0.4% during the second quarter. Broadleaf Partners LLC now owns 14,648 shares of the software maker’s stock valued at $3,828,000 after buying an additional 52 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

In other Intuit news, Chairman Scott D. Cook sold 133,334 shares of Intuit stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total transaction of $35,049,508.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the transaction, the chief financial officer now owns 10,628 shares in the company, valued at $2,723,637.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 277,296 shares of company stock worth $72,342,898. 4.60% of the stock is currently owned by company insiders.

Intuit stock traded down $10.53 during mid-day trading on Monday, hitting $264.11. The company’s stock had a trading volume of 902,833 shares, compared to its average volume of 1,117,816. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $71.20 billion, a PE ratio of 58.30, a P/E/G ratio of 2.76 and a beta of 1.10. Intuit Inc. has a twelve month low of $182.61 and a twelve month high of $284.97. The firm’s fifty day simple moving average is $271.20.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.12 by $0.43. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.82 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 5.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were given a $0.47 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.88 annualized dividend and a yield of 0.71%. Intuit’s dividend payout ratio (DPR) is 41.50%.

A number of equities research analysts have recently weighed in on the company. BidaskClub raised Intuit from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 9th. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating and set a $268.00 price objective on the stock. in a research note on Wednesday, May 29th. Barclays raised their price objective on shares of Intuit from $225.00 to $237.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. KeyCorp raised their price objective on shares of Intuit from $280.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, UBS Group raised their price objective on shares of Intuit from $245.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, May 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $254.15.

Intuit 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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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