Natixis Advisors LLC Sells 155,904 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Natixis Advisors LLC decreased its holdings in Intuit Inc. by 38.2% in the first quarter, now owning approximately $155 million worth of the company.
• Several institutional investors have increased their stakes in Intuit, with GAMMA Investing LLC notably boosting its position by 69,701.9%, now owning shares valued at $17.3 billion.
• Intuit recently reported quarterly earnings of $11.65 EPS, exceeding expectations and reflecting a 15.1% year-over-year revenue growth.

Natixis Advisors LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 38.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 252,486 shares of the software maker's stock after selling 155,904 shares during the period. Natixis Advisors LLC owned 0.09% of Intuit worth $155,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. GAMMA Investing LLC raised its position in shares of Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new stake in shares of Intuit during the first quarter valued at approximately $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 buying an additional 771,232 shares during the last quarter. Unisphere Establishment raised its position 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 valued at $942,750,000 after buying an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INTU shares. Oppenheimer boosted their price target on shares of Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research report on Monday. UBS Group set a $750.00 price target on shares of Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. BMO Capital Markets boosted their price target on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. CLSA started coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target on the stock. Finally, KeyCorp restated an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $806.27.

Intuit Trading Down 1.1%

Shares of INTU traded down $8.98 during trading hours on Friday, reaching $776.15. 1,490,057 shares of the company traded hands, compared to its average volume of 1,382,113. The firm has a market cap of $216.51 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 3.48 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average price is $765.98 and its 200 day moving average price is $660.69.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $7.56 billion. During the same period in the previous year, the firm earned $9.88 earnings per share. The business's revenue was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.5%. Intuit's dividend payout ratio is 33.77%.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 2,591 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is owned by company 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.