Intuit Inc. (NASDAQ:INTU) Shares Bought by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise raised its stake in Intuit Inc. (NASDAQ:INTU) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,906 shares of the software maker’s stock after purchasing an additional 858 shares during the period. Banque Cantonale Vaudoise’s holdings in Intuit were worth $12,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC purchased a new position in Intuit during the 2nd quarter worth $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 14.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on INTU shares. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Barclays increased their price target on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $737.06.

Intuit Price Performance

Intuit stock opened at $678.81 on Tuesday. The firm’s 50-day moving average is $634.11 and its two-hundred day moving average is $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. The stock has a market capitalization of $190.26 billion, a P/E ratio of 64.96, a P/E/G ratio of 3.36 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last announced 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 firm 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%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. Equities analysts predict 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.