Bouvel Investment Partners LLC Has $6.28 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Bouvel Investment Partners LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 0.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 9,668 shares of the software maker’s stock after selling 48 shares during the period. Intuit accounts for about 2.7% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 7th largest holding. Bouvel Investment Partners LLC’s holdings in Intuit were worth $6,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Intuit in the fourth quarter worth $2,101,848,000. Wellington Management Group LLP increased its holdings in shares of Intuit by 173.0% during the 4th 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 period. Lone Pine Capital LLC acquired a new position in shares of Intuit during the fourth quarter valued at about $467,852,000. Parnassus Investments LLC lifted its stake 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 buying an additional 727,185 shares during the period. Finally, International Assets Investment Management LLC grew its position in Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after buying an additional 472,172 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU stock traded up $13.96 during trading hours on Thursday, hitting $651.44. 1,478,025 shares of the company’s stock were exchanged, compared to its average volume of 1,347,828. Intuit Inc. has a 52 week low of $444.19 and a 52 week high of $676.62. The stock has a market cap of $182.11 billion, a price-to-earnings ratio of 60.08, a price-to-earnings-growth ratio of 3.61 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The stock’s 50-day moving average is $616.71 and its 200-day moving average is $627.26.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the firm earned $7.80 EPS. The company’s revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is 33.21%.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the sale, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the sale, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 193,937 shares of company stock worth $113,123,232. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Stifel Nicolaus reduced their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Wells Fargo & Company boosted their price target on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Susquehanna reduced their price objective on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a report on Friday, May 24th. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $679.41.

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.