Harbour Capital Advisors LLC Buys 883,243 Shares of Intuit Inc. (INTU)
Harbour Capital Advisors LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 21,749.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 887,304 shares of the software maker’s stock after buying an additional 883,243 shares during the period. Harbour Capital Advisors LLC owned about 0.35% of Intuit worth $6,681,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the last quarter. FineMark National Bank & Trust increased its stake in Intuit by 0.4% in the second quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock worth $361,000 after buying an additional 11 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Intuit by 0.6% in the first quarter. Integrated Investment Consultants LLC now owns 2,191 shares of the software maker’s stock worth $254,000 after buying an additional 13 shares during the last quarter. Cue Financial Group Inc. increased its stake in Intuit by 0.3% in the second quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock worth $930,000 after buying an additional 20 shares during the last quarter. Finally, Alpha Windward LLC increased its stake in Intuit by 1.1% in the first quarter. Alpha Windward LLC now owns 2,287 shares of the software maker’s stock worth $265,000 after buying an additional 25 shares during the last quarter. 85.57% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 1.07% during trading on Friday, hitting $136.60. The company had a trading volume of 747,234 shares. The company has a market capitalization of $35.00 billion, a P/E ratio of 39.25 and a beta of 1.15. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81. The stock’s 50-day moving average price is $135.04 and its 200 day moving average price is $127.75.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.87 by $0.03. Intuit had a return on equity of 311.57% and a net margin of 37.94%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $3.43 EPS. Intuit’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post $4.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, July 6th. Intuit’s dividend payout ratio is currently 39.19%.
A number of analysts recently weighed in on INTU shares. BidaskClub downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Barclays PLC restated a “hold” rating and issued a $130.00 target price on shares of Intuit in a research report on Friday, April 28th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $141.00 target price (up previously from $125.00) on shares of Intuit in a research report on Thursday, May 25th. Benchmark Co. started coverage on Intuit in a research report on Thursday, April 27th. They issued a “buy” rating and a $140.00 target price for the company. Finally, Zacks Investment Research upgraded Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Monday, May 29th. One 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 company’s stock. Intuit has an average rating of “Buy” and a consensus target price of $135.63.
In other Intuit news, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 74,052 shares of Intuit stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $139.46, for a total value of $10,327,291.92. The disclosure for this sale can be found here. Insiders have sold a total of 151,265 shares of company stock valued at $21,085,104 over the last three months. 5.70% of the stock is owned by corporate insiders.
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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