Banque Cantonale Vaudoise Purchases 858 Shares of Intuit Inc. (NASDAQ:INTU)

Banque Cantonale Vaudoise lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,906 shares of the software maker's stock after purchasing an additional 858 shares during the quarter. Banque Cantonale Vaudoise's holdings in Intuit were worth $12,361,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of INTU. Legal & General Group Plc lifted its stake in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker's stock worth $1,538,236,000 after acquiring an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker's stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the period. Principal Financial Group Inc. grew its stake in shares of Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker's stock worth $925,262,000 after purchasing an additional 56,370 shares during the period. Capital World Investors grew its stake in shares of Intuit by 1.0% during the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker's stock worth $772,706,000 after purchasing an additional 12,068 shares during the period. Finally, Unisphere Establishment grew its stake in Intuit by 4.2% in the second quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker's stock valued at $657,210,000 after acquiring an additional 40,000 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. This trade represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last three months. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of several recent research reports. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a report on Monday, September 30th. Barclays upped their price objective on Intuit from $740.00 to $800.00 and gave the company an "overweight" rating in a research note on Friday. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a research note on Friday, August 23rd. Finally, Piper Sandler restated an "overweight" rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $737.06.

Intuit Trading Down 5.1 %

Shares of INTU stock traded down $34.64 during mid-day trading on Tuesday, hitting $644.17. The company's stock had a trading volume of 2,494,006 shares, compared to its average volume of 1,341,997. The company's fifty day simple moving average is $634.11 and its 200-day simple moving average is $630.65. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $180.55 billion, a PE ratio of 61.47, a P/E/G ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.40 EPS. The business's quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Company Profile

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.