ASR Vermogensbeheer N.V. Makes New $21.37 Million Investment in Intuit Inc. (NASDAQ:INTU)

Key Points

• ASR Vermogensbeheer N.V. has acquired 34,803 shares of Intuit Inc. valued at approximately $21.37 million, indicating strong institutional interest in the company.
• Multiple large investors, including Vanguard Group and Brown Advisory, have increased their stakes in Intuit, highlighting robust institutional confidence amid a 83.66% ownership rate by institutional investors.
• Intuit recently reported a quarterly earnings beat with an EPS of $11.65, surpassing estimates, and has received multiple upgrades from analysts, raising its consensus price target to $806.27.

ASR Vermogensbeheer N.V. purchased a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,803 shares of the software maker's stock, valued at approximately $21,368,000.

Several other large investors have also recently added to or reduced their stakes in INTU. Vanguard Group Inc. grew its stake in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after purchasing an additional 294,993 shares during the period. Brown Advisory Inc. boosted its holdings in Intuit by 7.9% during the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after buying an additional 252,265 shares in the last quarter. Northern Trust Corp boosted its holdings in Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after buying an additional 498,030 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after buying an additional 771,232 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on INTU. KeyCorp reissued an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group upped their target price on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their price target on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $806.27.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the sale, the executive vice president owned 22,796 shares in the company, valued at $17,148,291. The trade was a 52.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock valued at $209,725,054 in the last three months. Company insiders own 2.68% of the company's stock.

Intuit Trading Down 1.7%

Shares of NASDAQ INTU traded down $12.61 during midday trading on Friday, reaching $749.00. 1,670,219 shares of the stock were exchanged, compared to its average volume of 1,423,083. The stock has a 50 day moving average price of $769.27 and a 200-day moving average price of $667.24. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $208.93 billion, a P/E ratio of 60.80, a P/E/G ratio of 2.93 and a beta of 1.28. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last released its 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. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $9.88 EPS. Equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.6%. Intuit's dividend payout ratio is 33.77%.

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.