BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 589,322 shares of the software maker's stock after selling 14,650 shares during the period. Intuit makes up 0.9% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s investment portfolio, making the stock its 14th biggest holding. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.21% of Intuit worth $365,969,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Fortitude Family Office LLC grew its stake in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker's stock valued at $382,000 after buying an additional 16 shares in the last quarter. WASHINGTON TRUST Co grew its stake in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker's stock valued at $110,000 after buying an additional 16 shares in the last quarter. Gemmer Asset Management LLC grew its position in shares of Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker's stock valued at $294,000 after purchasing an additional 16 shares in the last quarter. PFG Investments LLC grew its position in shares of Intuit by 1.1% during the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker's stock valued at $1,024,000 after purchasing an additional 17 shares in the last quarter. Finally, Plancorp LLC grew its position in shares of Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker's stock valued at $579,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Intuit Stock Performance

Intuit stock opened at $650.60 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $182.25 billion, a PE ratio of 62.26, a P/E/G ratio of 3.15 and a beta of 1.25. The firm has a fifty day simple moving average of $634.46 and a two-hundred day simple moving average of $630.89. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on INTU shares. Scotiabank started coverage on shares of Intuit in a research report on Monday. They set a "sector perform" rating and a $700.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Intuit from $770.00 to $790.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Monday, September 30th. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intuit from $585.00 to $600.00 and gave the company a "neutral" rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $737.06.

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.

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