Cubist Systematic Strategies LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 71.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,041 shares of the software maker’s stock after selling 39,290 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Intuit were worth $4,202,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Atlas Private Wealth Management bought a new stake in shares of Intuit in the fourth quarter valued at about $26,000. Manchester Financial Inc. purchased a new position in Intuit in the fourth quarter valued at about $30,000. Virtus ETF Advisers LLC purchased a new position in Intuit in the fourth quarter valued at about $31,000. Aigen Investment Management LP purchased a new position in Intuit in the fourth quarter valued at about $35,000. Finally, Princeton Global Asset Management LLC grew its stake in Intuit by 846.7% in the fourth quarter. Princeton Global Asset Management LLC now owns 142 shares of the software maker’s stock valued at $37,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 87.34% of the company’s stock.
Several research firms have issued reports on INTU. Guggenheim lifted their target price on Intuit from to in a research note on Tuesday, February 25th. Mizuho began coverage on Intuit in a research note on Wednesday. They issued a “buy” rating and a $280.00 target price on the stock. Barclays lifted their target price on Intuit from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. BidaskClub upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Co cut their target price on Intuit from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $290.40.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Monday, February 24th. The software maker reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.14. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.68 billion. Intuit had a return on equity of 41.03% and a net margin of 22.89%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. As a group, equities analysts forecast that Intuit Inc. will post 6.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Monday, April 13th will be given a $0.53 dividend. The ex-dividend date is Thursday, April 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. Intuit’s dividend payout ratio is currently 37.99%.
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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