Axa S.A. Buys 1,123 Shares of Intuit Inc. (NASDAQ:INTU)

Axa S.A. boosted its stake in Intuit Inc. (NASDAQ:INTU) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,204 shares of the software maker’s stock after acquiring an additional 1,123 shares during the quarter. Axa S.A. owned 0.08% of Intuit worth $142,091,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its holdings in shares of Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after buying an additional 2,641 shares in the last quarter. Parnassus Investments LLC raised its holdings in shares of Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Intuit by 1.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after purchasing an additional 1,990 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after purchasing an additional 2,655 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Citigroup raised their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada began coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Finally, Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Price Performance

NASDAQ:INTU opened at $638.20 on Wednesday. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s 50-day simple moving average is $635.93 and its 200 day simple moving average is $630.96. The firm has a market cap of $178.88 billion, a price-to-earnings ratio of 58.87, a P/E/G ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. As a group, sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. Insiders sold a total of 52,548 shares of company stock valued at $33,604,124 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Intuit Company 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.