Credit Agricole S A Cuts Holdings in Intuit Inc. $INTU

Key Points

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Credit Agricole S A lessened its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 133,119 shares of the software maker's stock after selling 6,006 shares during the quarter. Credit Agricole S A's holdings in Intuit were worth $81,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. GAMMA Investing LLC increased its stake in shares of Intuit by 69,701.9% in 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. Nuveen LLC acquired a new position in shares of Intuit during the 1st quarter valued at about $882,031,000. Nicholas Hoffman & Company LLC. purchased a new stake in shares of Intuit in the first quarter valued at about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 worth $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Finally, Unisphere Establishment raised its stake in 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 period. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. UBS Group set a $750.00 price target on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Susquehanna reiterated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. Finally, Morgan Stanley upped their price target on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $809.86.

Intuit Trading Down 0.2%

Shares of INTU traded down $1.39 during midday trading on Thursday, hitting $697.76. 2,497,899 shares of the stock were exchanged, compared to its average volume of 1,726,857. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day simple moving average of $758.91 and a 200 day simple moving average of $673.86. The firm has a market cap of $194.64 billion, a P/E ratio of 56.64, a P/E/G ratio of 2.69 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%.The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 EPS. The company's quarterly revenue was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer directly owned 197 shares in the company, valued at $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the sale, the executive vice president directly owned 40,767 shares in the company, valued at $31,017,164.28. This represents a 45.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock worth $209,725,054 over the last 90 days. 2.68% of the stock is owned by insiders.

Intuit Profile

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.