The Candriam Luxembourg S.C.A. Acquires 2,677 Shares of Intuit Inc. (INTU), Report finds

The Candriam Luxembourg S.C.A. Acquires 2,677 Shares of Intuit Inc. (INTU), Report finds

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. TLP Group LLC acquired a new position in Intuit during the third quarter valued at about $125,000. Penserra Capital Management LLC raised its position in Intuit by 95.6% in the third quarter. Penserra Capital Management LLC now owns 1,379 shares of the company’s stock valued at $151,000 after buying an additional 674 shares during the period. MSI Financial Services Inc raised its position in Intuit by 1.0% in the third quarter. MSI Financial Services Inc now owns 1,385 shares of the company’s stock valued at $152,000 after buying an additional 14 shares during the period. Alpha Windward LLC raised its position in Intuit by 1.3% in the third quarter. Alpha Windward LLC now owns 1,582 shares of the company’s stock valued at $174,000 after buying an additional 20 shares during the period. Finally, Stanley Laman Group Ltd. acquired a new position in Intuit during the third quarter valued at about $194,000. Hedge funds and other institutional investors own 85.89% of the company’s stock.

Candriam Luxembourg S.C.A. raised its stake in Intuit Inc. (NASDAQ:INTU) by 9.7% during the third quarter, Holdings Channel reports. The firm owned 30,269 shares of the company’s stock after buying an additional 2,677 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Intuit were worth $3,330,000 as of its most recent filing with the SEC.

Intuit Inc. (NASDAQ:INTU) traded up 1.24% during midday trading on Friday, hitting $117.53. 1,428,133 shares of the company traded hands. The firm has a market capitalization of $30.16 billion, a PE ratio of 31.44 and a beta of 1.06. Intuit Inc. has a 12-month low of $93.68 and a 12-month high of $120.55. The stock’s 50-day moving average is $116.93 and its 200-day moving average is $112.66.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 17th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Intuit had a net margin of 20.59% and a return on equity of 82.77%. The business had revenue of $778 million for the quarter, compared to analyst estimates of $754.36 million. During the same period in the prior year, the business posted $0.09 earnings per share. Intuit’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post $4.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Investors of record on Tuesday, January 10th were issued a $0.34 dividend. The ex-dividend date was Friday, January 6th. This represents a $1.36 annualized dividend and a yield of 1.16%. Intuit’s dividend payout ratio is currently 36.27%.

Several research analysts have issued reports on the stock. Deutsche Bank AG restated a “buy” rating and issued a $130.00 price target on shares of Intuit in a research report on Friday, November 18th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. J P Morgan Chase & Co restated a “hold” rating and issued a $114.00 price target on shares of Intuit in a research report on Thursday, November 17th. Brean Capital restated a “buy” rating and issued a $135.00 price target on shares of Intuit in a research report on Wednesday, December 28th. Finally, Evercore ISI assumed coverage on shares of Intuit in a research report on Wednesday, November 16th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $200.83.

In other Intuit news, EVP Henry Tayloe Stansbury sold 26,189 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $115.59, for a total value of $3,027,186.51. Following the completion of the sale, the executive vice president now owns 26,859 shares of the company’s stock, valued at $3,104,631.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark J. Flournoy sold 1,892 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $115.47, for a total transaction of $218,469.24. The disclosure for this sale can be found here. Insiders sold 33,694 shares of company stock worth $3,896,876 over the last 90 days. 5.70% of the stock is currently owned by company insiders.

About Intuit

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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