Assenagon Asset Management S.A. Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Assenagon Asset Management S.A. grew its position in Intuit Inc. (NASDAQ:INTU) by 72.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,516 shares of the software maker’s stock after acquiring an additional 42,975 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Intuit were worth $63,662,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in Intuit by 4.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 6,896 shares of the software maker’s stock valued at $4,282,000 after purchasing an additional 276 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Intuit by 16.7% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 356 shares of the software maker’s stock worth $221,000 after buying an additional 51 shares in the last quarter. Tanager Wealth Management LLP boosted its position in Intuit by 8.1% during the third quarter. Tanager Wealth Management LLP now owns 664 shares of the software maker’s stock worth $412,000 after acquiring an additional 50 shares during the last quarter. International Assets Investment Management LLC boosted its position in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares during the last quarter. Finally, McAdam LLC purchased a new stake in Intuit during the 3rd quarter valued at about $205,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several recent research reports. BMO Capital Markets boosted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Barclays cut their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Jefferies Financial Group boosted their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America raised their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Trading Up 0.3 %

INTU opened at $603.98 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $168.84 billion, a P/E ratio of 55.72, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The business has a fifty day simple moving average of $628.71 and a 200-day simple moving average of $627.16.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.