Raiffeisen Bank International AG Has $9.11 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Raiffeisen Bank International AG increased its stake in Intuit Inc. by 20.8% during Q1, owning a total of 15,212 shares valued at approximately $9.11 million.
• Intuit reported an EPS of $11.65 for the quarter, exceeding analysts' estimates, with a 15.1% year-over-year revenue growth to $7.75 billion.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $806.27, after several firms raised their target prices significantly.

Raiffeisen Bank International AG boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 20.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,212 shares of the software maker's stock after buying an additional 2,615 shares during the period. Raiffeisen Bank International AG's holdings in Intuit were worth $9,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of INTU. Pinnacle Financial Partners Inc increased its position in shares of Intuit by 3.6% during the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after buying an additional 623 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in Intuit during the fourth quarter valued at approximately $109,988,000. Financial Gravity Asset Management Inc. purchased a new stake in Intuit during the first quarter valued at approximately $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intuit in the fourth quarter worth $237,244,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Intuit by 16.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker's stock worth $4,240,000 after acquiring an additional 962 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Piper Sandler reiterated an "overweight" rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Oppenheimer upped their price objective on shares of Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, CLSA assumed coverage on shares of Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price objective for the company. One equities research 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 stock. According to MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit Stock Down 2.0%

NASDAQ INTU traded down $15.60 during trading hours on Tuesday, hitting $769.27. 1,257,607 shares of the company traded hands, compared to its average volume of 1,466,042. The business's 50-day moving average is $768.40 and its 200-day moving average is $663.67. Intuit Inc. has a twelve month low of $532.65 and a twelve month 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 market capitalization of $214.59 billion, a price-to-earnings ratio of 62.44, a P/E/G ratio of 3.02 and a beta of 1.28.

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

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares of the company's stock, valued at approximately $14,704.10. The trade was a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the transaction, the chief accounting officer directly owned 455 shares in the company, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 over the last three months. 2.68% of the stock is owned by corporate insiders.

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.