Deutsche Bank AG Sells 49,747 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Deutsche Bank AG has reduced its stake in Intuit Inc. by 3.8%, now owning approximately 1.27 million shares valued at around $781.8 million.
• Intuit's recent earnings report revealed $11.65 earnings per share, surpassing expectations of $10.89, alongside a 15.1% year-over-year revenue increase to $7.75 billion.
• Several research analysts have upgraded Intuit's stock ratings, with Bank of America raising its price target significantly to $875, reflecting positive market sentiment.

Deutsche Bank AG decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,273,313 shares of the software maker's stock after selling 49,747 shares during the quarter. Deutsche Bank AG owned 0.46% of Intuit worth $781,801,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in shares of Intuit during the first quarter valued at about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Unisphere Establishment grew its holdings in shares of Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. CLSA started coverage on shares of Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. KeyCorp reaffirmed an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Bank of America boosted their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Intuit has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Insiders Place Their Bets

In related news, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the transaction, the executive vice president directly owned 23,101 shares in the company, valued at $16,844,325.16. This trade represents a 41.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $19,293,708.00. Following the completion of the sale, the executive vice president directly owned 22,796 shares of the company's stock, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 1.7%

Shares of INTU stock traded down $12.61 during trading hours on Friday, hitting $749.00. 1,670,219 shares of the company were exchanged, compared to its average volume of 1,423,083. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The company has a 50 day simple moving average of $769.27 and a two-hundred day simple moving average of $667.24. The firm has a market cap of $208.93 billion, a P/E ratio of 60.80, a P/E/G ratio of 2.93 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 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted $9.88 earnings per share. The business's revenue was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.6%. Intuit's dividend payout ratio is presently 33.77%.

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.