November 8, 2019 at 6:48 am

Chicago Equity Partners LLC Invests $444,000 in Intuit Inc. (NASDAQ:INTU)

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Chicago Equity Partners LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) in the third quarter, HoldingsChannel reports. The firm acquired 1,670 shares of the software maker’s stock, valued at approximately $444,000.

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Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its holdings in Intuit by 2.5% during the 2nd quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock valued at $5,401,090,000 after buying an additional 503,291 shares during the last quarter. Vanguard Group Inc. raised its holdings in Intuit by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,951,046 shares of the software maker’s stock valued at $5,213,806,000 after buying an additional 305,013 shares during the last quarter. Invesco Ltd. raised its holdings in Intuit by 96.3% during the 2nd quarter. Invesco Ltd. now owns 6,001,471 shares of the software maker’s stock valued at $1,568,367,000 after buying an additional 2,944,291 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Intuit by 4,951.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,988,508 shares of the software maker’s stock valued at $1,303,647,000 after buying an additional 4,889,759 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Intuit by 28.7% during the 2nd quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock valued at $1,241,949,000 after buying an additional 1,060,033 shares during the last quarter. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Shares of Intuit stock opened at $259.35 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $263.05 and its two-hundred day simple moving average is $264.80. The company has a market cap of $66.07 billion, a P/E ratio of 46.48, a PEG ratio of 2.48 and a beta of 1.10. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $295.77.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.37. The business had revenue of $994.00 million for the quarter, compared to the consensus estimate of $964.02 million. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. Analysts predict that Intuit Inc. will post 6.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $0.53 per share. This is an increase from Intuit’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Wednesday, October 9th. Intuit’s payout ratio is presently 37.99%.

A number of equities research analysts recently commented on the stock. KeyCorp upped their price target on shares of Intuit from $300.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Citigroup upped their price target on shares of Intuit from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Argus set a $325.00 price target on shares of Intuit and gave the company a “buy” rating in a report on Monday, August 26th. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating and set a $291.00 price target for the company. in a report on Wednesday, October 23rd. Finally, Barclays upped their price target on shares of Intuit from $245.00 to $276.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $278.21.

In other Intuit news, SVP Jeffrey David Ayers sold 39,689 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $17.15, for a total transaction of $680,666.35. Also, CAO Mark J. Flournoy sold 6,854 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $286.33, for a total transaction of $1,962,505.82. Following the transaction, the chief accounting officer now directly owns 4,541 shares in the company, valued at $1,300,224.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 285,279 shares of company stock worth $68,553,645. Insiders own 4.60% of the company’s stock.

Intuit Company 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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