Bouvel Investment Partners LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Bouvel Investment Partners LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,746 shares of the software maker’s stock after purchasing an additional 63 shares during the period. Intuit makes up about 2.2% of Bouvel Investment Partners LLC’s portfolio, making the stock its 12th biggest position. Bouvel Investment Partners LLC’s holdings in Intuit were worth $6,125,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. raised its stake in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the last quarter. GAMMA Investing LLC lifted its position in Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares during the period. Retireful LLC purchased a new stake in Intuit during the 3rd quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Intuit in the third quarter worth about $56,144,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $607.29 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $169.99 billion, a PE ratio of 58.96, a P/E/G ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a fifty day moving average price of $649.03 and a 200 day moving average price of $637.60.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio is currently 40.39%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

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.