Unigestion Holding SA Acquires 2,459 Shares of Intuit Inc. (NASDAQ:INTU)

Unigestion Holding SA raised its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 101.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,890 shares of the software maker's stock after acquiring an additional 2,459 shares during the quarter. Unigestion Holding SA's holdings in Intuit were worth $3,002,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter valued at approximately $25,000. Copia Wealth Management bought a new position in shares of Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the 4th quarter valued at about $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Wells Fargo & Company restated an "overweight" rating and issued a $825.00 price target (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Insiders Place Their Bets

In related 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 transaction, the executive vice president now owns 22,796 shares in the company, valued at $17,148,291. This trade represents a 52.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,804 shares of company stock valued at $138,081,963 over the last 90 days. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Down 0.0%

Shares of NASDAQ:INTU traded down $0.17 during trading on Thursday, reaching $766.64. 1,239,445 shares of the company traded hands, compared to its average volume of 1,619,145. The firm has a fifty day simple moving average of $640.03 and a 200 day simple moving average of $624.89. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.47. The firm has a market cap of $213.85 billion, a P/E ratio of 74.43, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.88 earnings per share. Analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit's payout ratio is currently 33.77%.

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.