Banco Bilbao Vizcaya Argentaria S.A. Purchases 10,764 Shares of Intuit Inc. $INTU

Key Points

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Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 20.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,368 shares of the software maker's stock after buying an additional 10,764 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Intuit were worth $39,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S increased its position in Intuit by 21.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,349 shares of the software maker's stock valued at $29,686,000 after acquiring an additional 8,567 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. grew its stake in shares of Intuit by 18.4% during the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 40,301 shares of the software maker's stock valued at $24,744,000 after purchasing an additional 6,251 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Intuit by 0.5% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,731 shares of the software maker's stock valued at $8,431,000 after purchasing an additional 75 shares during the last quarter. Financial Advisors Network Inc. increased its position in shares of Intuit by 100.0% during the 1st quarter. Financial Advisors Network Inc. now owns 964 shares of the software maker's stock valued at $592,000 after purchasing an additional 482 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Intuit by 6.8% in the 1st quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock worth $3,472,266,000 after purchasing an additional 358,328 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the sale, the executive vice president directly owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $1.39 during trading on Thursday, hitting $697.76. 2,497,899 shares of the company's stock were exchanged, compared to its average volume of 1,726,857. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The business's 50-day simple moving average is $758.91 and its 200 day simple moving average is $673.86. The company has a market cap of $194.64 billion, a price-to-earnings ratio of 56.64, a PEG ratio of 2.69 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%.The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the firm earned $9.88 EPS. The firm's revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. KeyCorp reiterated an "overweight" rating and issued a $850.00 price target (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Morgan Stanley boosted their price objective on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Citigroup upped their price objective on Intuit from $789.00 to $815.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Finally, CLSA started coverage on Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $809.86.

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.