Banque Cantonale Vaudoise Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Banque Cantonale Vaudoise raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 19,906 shares of the software maker’s stock after buying an additional 858 shares during the period. Banque Cantonale Vaudoise’s holdings in Intuit were worth $12,361,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Intuit in the 2nd quarter worth about $184,982,000. Ameriprise Financial Inc. lifted its position in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after purchasing an additional 169,190 shares in the last quarter. Finally, Seven Post Investment Office LP acquired a new position in shares of Intuit during the 2nd quarter worth about $107,513,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on INTU. Scotiabank assumed coverage on Intuit in a research note on Monday. They set a “sector perform” rating and a $700.00 price objective for the company. Barclays boosted their target price on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Finally, Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $737.06.

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $678.81 on Tuesday. The business has a 50-day moving average of $634.11 and a 200 day moving average of $630.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a market capitalization of $190.26 billion, a price-to-earnings ratio of 64.96, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current year.

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.