BNP Paribas Purchases 63 Shares of Intuit Inc. (NASDAQ:INTU)

BNP Paribas raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,477 shares of the software maker’s stock after acquiring an additional 63 shares during the period. BNP Paribas’ holdings in Intuit were worth $2,751,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its stake in Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the period. Legal & General Group Plc lifted its holdings in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after acquiring an additional 26,914 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in 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 acquiring an additional 56,370 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.7 %

INTU opened at $638.83 on Wednesday. The firm has a 50 day simple moving average of $634.46 and a 200 day simple moving average of $631.29. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a market cap of $178.90 billion, a price-to-earnings ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on INTU. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is currently owned by company insiders.

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.