NuWave Investment Management LLC reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 17.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306 shares of the software maker’s stock after selling 64 shares during the period. NuWave Investment Management LLC’s holdings in Intuit were worth $80,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. CX Institutional increased its stake in Intuit by 85.5% during the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after buying an additional 47 shares during the period. Parsons Capital Management Inc. RI increased its stake in Intuit by 0.3% during the 4th quarter. Parsons Capital Management Inc. RI now owns 17,091 shares of the software maker’s stock worth $3,364,000 after buying an additional 48 shares during the period. Rehmann Capital Advisory Group increased its stake in Intuit by 4.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,055 shares of the software maker’s stock worth $208,000 after buying an additional 48 shares during the period. CWM LLC increased its stake in Intuit by 20.0% during the 4th quarter. CWM LLC now owns 336 shares of the software maker’s stock worth $66,000 after buying an additional 56 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in Intuit by 16.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock worth $77,000 after buying an additional 56 shares during the period. 87.69% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Dennis D. Powell sold 4,083 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $248.96, for a total value of $1,016,503.68. Following the completion of the transaction, the director now owns 3,550 shares in the company, valued at approximately $883,808. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James Alexander Chriss sold 923 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $247.10, for a total transaction of $228,073.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,609 shares of company stock valued at $22,757,853. Company insiders own 4.60% of the company’s stock.
NASDAQ INTU opened at $260.06 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. Intuit Inc. has a 52 week low of $171.11 and a 52 week high of $272.14. The company has a market cap of $67.25 billion, a price-to-earnings ratio of 57.41, a PEG ratio of 3.02 and a beta of 1.19.
Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.44. Intuit had a net margin of 22.89% and a return on equity of 53.70%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, research analysts expect that Intuit Inc. will post 5.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 41.50%.
Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Intuit from $274.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. KeyCorp upped their target price on shares of Intuit from $255.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Exane BNP Paribas started coverage on shares of Intuit in a report on Friday, March 29th. They set an “underperform” rating and a $200.00 price target for the company. BidaskClub cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, BNP Paribas started coverage on shares of Intuit in a report on Friday, March 29th. They set an “underperform” rating and a $200.00 price target for the company. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $240.00.
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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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