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

Assenagon Asset Management S.A. increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 284.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 338,975 shares of the software maker’s stock after acquiring an additional 250,847 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Intuit were worth $208,127,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Intuit during the fourth quarter worth about $104,278,000. Revolve Wealth Partners LLC raised its stake in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after purchasing an additional 482 shares during the period. Empowered Funds LLC raised its stake in Intuit by 26.4% during the fourth quarter. Empowered Funds LLC now owns 7,021 shares of the software maker’s stock worth $4,413,000 after purchasing an additional 1,465 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in Intuit by 62.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,409 shares of the software maker’s stock worth $4,657,000 after purchasing an additional 2,858 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 62,816 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the transaction, the insider now owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. This represents a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock worth $213,441,865 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.3%

NASDAQ INTU opened at $762.10 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The stock has a market capitalization of $212.59 billion, a PE ratio of 73.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The firm has a 50 day moving average of $652.38 and a two-hundred day moving average of $627.65.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the business posted $9.88 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Analyst Ratings Changes

A number of brokerages have commented on INTU. Piper Sandler reaffirmed an “overweight” rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Oppenheimer reissued an “outperform” rating and issued a $742.00 price target (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. The Goldman Sachs Group boosted their price target on shares of Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $820.00 price target (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $785.33.

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.