DSM Capital Partners LLC Has $293.75 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• DSM Capital Partners LLC increased its holdings in Intuit Inc. by 39.4%, now owning a total of 478,434 shares valued at approximately $293.75 million.
• Several hedge funds, including Sit Investment Associates and Mitsubishi UFJ Asset Management, have also made significant increases in their stakes in Intuit during the first quarter of the year.
• Intuit's stock has received multiple analyst rating upgrades, with target prices set as high as $900.00, indicating a strong consensus rating of "Moderate Buy".

DSM Capital Partners LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 39.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,434 shares of the software maker's stock after purchasing an additional 135,260 shares during the period. Intuit comprises about 5.1% of DSM Capital Partners LLC's portfolio, making the stock its 7th largest holding. DSM Capital Partners LLC owned 0.17% of Intuit worth $293,754,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Sit Investment Associates Inc. grew its position in Intuit by 36.1% in the first quarter. Sit Investment Associates Inc. now owns 33,341 shares of the software maker's stock valued at $20,471,000 after purchasing an additional 8,849 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Intuit by 3.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,540 shares of the software maker's stock valued at $35,943,000 after acquiring an additional 1,900 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. grew its position in shares of Intuit by 71.4% in the 1st quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 3,600 shares of the software maker's stock valued at $2,210,000 after acquiring an additional 1,500 shares during the period. E Fund Management Co. Ltd. grew its position in shares of Intuit by 13.3% in the 1st quarter. E Fund Management Co. Ltd. now owns 13,013 shares of the software maker's stock valued at $7,990,000 after acquiring an additional 1,532 shares during the period. Finally, Financial Network Wealth Advisors LLC grew its position in shares of Intuit by 36.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 201 shares of the software maker's stock valued at $123,000 after acquiring an additional 54 shares during the period. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. UBS Group set a $750.00 price target on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $806.27.

Intuit Trading Down 0.2%

Shares of INTU stock opened at $711.71 on Thursday. The stock's fifty day moving average price is $765.97 and its two-hundred day moving average price is $669.47. The company has a market cap of $198.53 billion, a PE ratio of 57.77, a P/E/G ratio of 2.75 and a beta of 1.28. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the business posted $9.88 EPS. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the transaction, the executive vice president directly owned 19 shares of the company's stock, valued at $14,704.10. This trade represents a 98.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 over the last 90 days. 2.68% of the stock is currently owned by company insiders.

Intuit 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.

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