Assenagon Asset Management S.A. Has $208.13 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Assenagon Asset Management S.A. grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 284.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 338,975 shares of the software maker's stock after buying an additional 250,847 shares during the period. Assenagon Asset Management S.A. owned 0.12% of Intuit worth $208,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Norges Bank bought a new position in shares of Intuit in the 4th quarter worth $2,290,419,000. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC increased its position in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after buying an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 last quarter. Finally, Wellington Management Group LLP increased its position in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company's stock, valued at $24,119,224.70. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,408 shares of company stock valued at $213,441,865 in the last three months. Insiders own 2.68% of the company's stock.

Intuit Price Performance

NASDAQ INTU traded down $12.23 on Friday, hitting $753.98. 1,148,047 shares of the company's stock were exchanged, compared to its average volume of 1,611,840. The stock has a 50-day moving average of $664.85 and a 200-day moving average of $630.29. The company has a current ratio of 1.24, a quick 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 cap of $210.32 billion, a price-to-earnings ratio of 73.20, a P/E/G ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company earned $9.88 EPS. Intuit's revenue was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INTU shares. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. UBS Group set a $750.00 target price on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. HSBC raised 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. JPMorgan Chase & Co. upped their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Citigroup reaffirmed a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. One 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $787.95.

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.