Intuit Inc. (NASDAQ:INTU) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 54.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,429 shares of the software maker’s stock after acquiring an additional 6,525 shares during the period. Assenagon Asset Management S.A.’s holdings in Intuit were worth $11,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Sendero Wealth Management LLC grew its stake in Intuit by 1.3% in the 4th quarter. Sendero Wealth Management LLC now owns 9,537 shares of the software maker’s stock valued at $5,961,000 after acquiring an additional 127 shares during the last quarter. Simon Quick Advisors LLC grew its stake in Intuit by 3.8% in the 4th quarter. Simon Quick Advisors LLC now owns 1,386 shares of the software maker’s stock valued at $866,000 after acquiring an additional 51 shares during the last quarter. Oak Ridge Investments LLC grew its stake in Intuit by 0.5% in the 4th quarter. Oak Ridge Investments LLC now owns 13,336 shares of the software maker’s stock valued at $8,335,000 after acquiring an additional 69 shares during the last quarter. Portside Wealth Group LLC grew its stake in Intuit by 6.5% in the 4th quarter. Portside Wealth Group LLC now owns 526 shares of the software maker’s stock valued at $329,000 after acquiring an additional 32 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Intuit by 7.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,937 shares of the software maker’s stock worth $19,962,000 after purchasing an additional 2,257 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 0.2 %

NASDAQ INTU opened at $650.00 on Friday. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The company’s 50 day moving average price is $646.73 and its 200 day moving average price is $587.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $182 billion, a price-to-earnings ratio of 66.33, a PEG ratio of 3.90 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio is currently 36.73%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Evercore ISI raised their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Oppenheimer raised their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Insider Activity

In other news, EVP Laura A. Fennell sold 14,772 shares of Intuit stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the sale, the executive vice president now owns 50,030 shares in the company, valued at $29,943,955.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Laura A. Fennell sold 14,772 shares of Intuit stock in a transaction on Monday, January 8th. The shares were sold at an average price of $598.52, for a total value of $8,841,337.44. Following the completion of the sale, the executive vice president now owns 50,030 shares in the company, valued at $29,943,955.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 34,260 shares of company stock worth $20,667,475 over the last 90 days. Company insiders own 2.90% of the company’s stock.

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.