10,949 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by BDF Gestion

BDF Gestion purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 10,949 shares of the software maker’s stock, valued at approximately $7,196,000.

Several other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC grew its position in Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after buying an additional 2,641 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after purchasing an additional 226 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 0.7 %

NASDAQ INTU traded up $4.08 during trading on Friday, hitting $630.20. 802,671 shares of the company traded hands, compared to its average volume of 1,328,678. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The business has a fifty day simple moving average of $623.68 and a 200 day simple moving average of $633.73. The company has a market capitalization of $176.17 billion, a P/E ratio of 57.76, a PEG ratio of 3.14 and a beta of 1.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $7.80 EPS. As a group, sell-side analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,963 shares of company stock worth $114,442,445. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup upped their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Morgan Stanley raised their price objective on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Wells Fargo & Company boosted their target price on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Stifel Nicolaus decreased their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Piper Sandler reissued an “overweight” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $694.27.

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.