Intuit Inc. (NASDAQ:INTU) Shares Acquired by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Intuit Inc. by 74.7% during the first quarter, now holding approximately $251.12 million worth of shares.
• Intuit reported earnings of $11.65 per share for the last quarter, exceeding expectations by $0.76 with a revenue of $7.75 billion, up 15.1% year-over-year.
• The stock has a market cap of $212.45 billion and is currently rated as a "Moderate Buy" with a consensus price target of $806.27.

National Bank of Canada FI increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 74.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,005 shares of the software maker's stock after purchasing an additional 174,847 shares during the period. National Bank of Canada FI owned approximately 0.15% of Intuit worth $251,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC boosted its position in Intuit by 18.0% during the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after acquiring an additional 18 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares during the last quarter. Chris Bulman Inc boosted its holdings in Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares during the last quarter. Kolinsky Wealth Management LLC boosted its holdings in Intuit by 1.6% in the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after purchasing an additional 19 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in Intuit by 1.2% in the 1st quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock valued at $1,021,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction on Thursday, May 29th. The stock was 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 owned 22,796 shares in the company, valued at $17,148,291. This represents a 52.94% 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.

Analyst Ratings Changes

Several brokerages recently weighed in on INTU. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus raised their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. UBS Group set a $750.00 price objective on shares of Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Evercore ISI boosted their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Intuit Stock Down 0.1%

Shares of INTU traded down $0.40 during trading hours on Tuesday, hitting $705.69. The company had a trading volume of 1,048,019 shares, compared to its average volume of 1,766,676. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The firm has a fifty day moving average price of $768.10 and a 200-day moving average price of $668.87. The stock has a market capitalization of $196.85 billion, a price-to-earnings ratio of 57.40, a P/E/G ratio of 2.89 and a beta of 1.28. 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 (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.88 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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