Banque Cantonale Vaudoise Takes Position in Intuit Inc. (NASDAQ:INTU)

Banque Cantonale Vaudoise bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,973 shares of the software maker’s stock, valued at approximately $6,738,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Pinnacle Financial Partners Inc lifted its holdings in shares of Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker’s stock valued at $10,922,000 after purchasing an additional 623 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in shares of Intuit in the 4th quarter valued at approximately $109,988,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Intuit in the first quarter valued at approximately $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intuit during the fourth quarter worth approximately $237,244,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Intuit by 16.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker’s stock worth $4,240,000 after purchasing an additional 962 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. BMO Capital Markets lifted their price objective on Intuit from $820.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $806.27.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. This represents a 98.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard L. Dalzell sold 333 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the sale, the director owned 15,474 shares of the company’s stock, valued at approximately $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

NASDAQ:INTU opened at $798.73 on Tuesday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $800.50. The firm has a market cap of $222.81 billion, a price-to-earnings ratio of 64.83, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. The company’s 50-day moving average is $757.95 and its two-hundred day moving average is $657.44. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business posted $9.88 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.77%.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.