Jackson Park Capital LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 33.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the company’s stock after selling 6,000 shares during the period. Intuit accounts for about 1.8% of Jackson Park Capital LLC’s investment portfolio, making the stock its 25th largest position. Jackson Park Capital LLC’s holdings in Intuit were worth $1,339,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its stake in shares of Intuit by 166.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 689,800 shares of the company’s stock valued at $71,746,000 after buying an additional 430,600 shares during the last quarter. Strs Ohio raised its stake in shares of Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock worth $63,371,000 after buying an additional 384,420 shares during the period. Calamos Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth $29,077,000. First Quadrant L P CA raised its stake in shares of Intuit by 214,987.7% in the second quarter. First Quadrant L P CA now owns 245,200 shares of the company’s stock worth $27,367,000 after buying an additional 245,086 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Intuit by 13.0% in the first quarter. Wellington Management Group LLP now owns 1,205,266 shares of the company’s stock worth $125,360,000 after buying an additional 138,579 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded down 1.070% during mid-day trading on Friday, hitting $107.675. The stock had a trading volume of 856,993 shares. The stock has a 50 day moving average of $110.29 and a 200-day moving average of $107.91. The firm has a market cap of $27.77 billion, a P/E ratio of 29.157 and a beta of 1.10. Intuit Inc. has a 1-year low of $88.17 and a 1-year high of $116.97.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.10. The firm earned $754 million during the quarter, compared to analysts’ expectations of $735.35 million. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. Analysts predict that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be issued a $0.34 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.36 annualized dividend and a yield of 1.25%. Intuit’s dividend payout ratio is 36.17%.
A number of equities research analysts have weighed in on INTU shares. Citigroup Inc. restated a “buy” rating and set a $128.00 price objective on shares of Intuit in a research note on Wednesday, August 24th. Morgan Stanley lowered Intuit from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $109.54 to $105.00 in a research note on Tuesday, September 13th. Oppenheimer Holdings Inc. raised their price objective on Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Goldman Sachs Group Inc. raised their price objective on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Finally, Credit Suisse Group AG restated a “neutral” rating and set a $100.00 price objective on shares of Intuit in a research note on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Intuit presently has an average rating of “Buy” and a consensus target price of $194.34.
In other news, EVP Sasan K. Goodarzi sold 18,567 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $109.78, for a total value of $2,038,285.26. Following the sale, the executive vice president now directly owns 1,492 shares in the company, valued at approximately $163,791.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $109.19, for a total value of $204,294.49. Following the completion of the sale, the executive vice president now owns 2,541 shares in the company, valued at $277,451.79. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.