Neo Ivy Capital Management bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,546 shares of the software maker’s stock, valued at approximately $1,449,000. Intuit makes up approximately 0.8% of Neo Ivy Capital Management’s holdings, making the stock its 5th biggest position.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Manchester Financial Inc. bought a new stake in Intuit in the 2nd quarter valued at $30,000. FNY Investment Advisers LLC bought a new stake in Intuit in the 2nd quarter valued at $30,000. Thor Advisors LLC bought a new stake in Intuit in the 1st quarter valued at $33,000. Ibex Wealth Advisors bought a new stake in Intuit in the 2nd quarter valued at $48,000. Finally, Motco bought a new stake in Intuit in the 2nd quarter valued at $61,000. Institutional investors own 87.06% of the company’s stock.
In related news, Chairman Scott D. Cook sold 133,333 shares of Intuit stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $278.53, for a total transaction of $37,137,240.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Scott D. Cook sold 75,502 shares of Intuit stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $270.40, for a total transaction of $20,415,740.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 245,590 shares of company stock valued at $67,872,979. 4.60% of the stock is owned by corporate insiders.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.37. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The firm had revenue of $994.00 million for the quarter, compared to the consensus estimate of $964.02 million. During the same period in the previous year, the firm posted $0.32 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Intuit Inc. will post 6.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. 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 dividend yield of 0.79%. Intuit’s payout ratio is 33.69%.
A number of analysts have issued reports on INTU shares. Bank of America lifted their price target on shares of Intuit from $264.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup lifted 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. BidaskClub downgraded shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 11th. Oppenheimer lifted their price target on shares of Intuit from $269.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, 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. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Intuit has a consensus rating of “Hold” and an average target price of $277.00.
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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