Neuberger Berman Group LLC Has $238.97 Million Position in Intuit Inc. (INTU)
Neuberger Berman Group LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,799,333 shares of the software maker’s stock after selling 199,983 shares during the period. Neuberger Berman Group LLC owned approximately 0.70% of Intuit worth $238,969,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its position in shares of Intuit by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 70,696 shares of the software maker’s stock valued at $8,200,000 after buying an additional 900 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Intuit by 2.8% in the first quarter. Wetherby Asset Management Inc. now owns 7,013 shares of the software maker’s stock valued at $813,000 after buying an additional 194 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Intuit during the first quarter valued at approximately $214,000. Reilly Herbert Faulkner III increased its position in shares of Intuit by 2.5% in the first quarter. Reilly Herbert Faulkner III now owns 41,963 shares of the software maker’s stock valued at $4,867,000 after buying an additional 1,036 shares during the last quarter. Finally, Dowling & Yahnke LLC increased its position in shares of Intuit by 2.2% in the first quarter. Dowling & Yahnke LLC now owns 14,761 shares of the software maker’s stock valued at $1,712,000 after buying an additional 311 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.
Shares of Intuit Inc. (NASDAQ INTU) opened at 137.35 on Monday. The stock has a market cap of $35.30 billion, a PE ratio of 36.92 and a beta of 1.15. The stock has a 50 day moving average of $135.60 and a 200 day moving average of $129.04. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $143.81.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The company had revenue of $842 million during the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. On average, equities analysts anticipate that Intuit Inc. will post $4.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. This is a boost from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is 36.56%.
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Several equities analysts recently commented on the stock. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and cut their price target for the company from $148.00 to $141.00 in a report on Monday, June 26th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Monday, May 29th. Barclays PLC reiterated an “equal weight” rating on shares of Intuit in a report on Sunday, May 28th. CIBC boosted their price objective on shares of Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, May 26th. Finally, First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective for the company in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $137.76.
In other news, EVP Laura A. Fennell sold 74,052 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total transaction of $10,327,291.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 595,109 shares of company stock valued at $81,061,248. Company insiders own 5.70% of the company’s stock.
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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