APG Asset Management US Inc. Takes $35.10 Million Position in Intuit Inc. (NASDAQ:INTU)

APG Asset Management US Inc. purchased a new stake in Intuit Inc. (NASDAQ:INTUFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 56,158 shares of the software maker’s stock, valued at approximately $35,100,000.

A number of other hedge funds also recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in shares of Intuit by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 448,603 shares of the software maker’s stock valued at $280,390,000 after purchasing an additional 7,145 shares in the last quarter. FinTrust Capital Advisors LLC raised its holdings in Intuit by 38.7% in the 4th quarter. FinTrust Capital Advisors LLC now owns 502 shares of the software maker’s stock valued at $314,000 after buying an additional 140 shares during the last quarter. Seldon Capital LP bought a new position in Intuit in the 4th quarter valued at approximately $236,000. Cloverfields Capital Group LP raised its holdings in Intuit by 4.2% in the 4th quarter. Cloverfields Capital Group LP now owns 4,364 shares of the software maker’s stock valued at $2,728,000 after buying an additional 174 shares during the last quarter. Finally, Global Endowment Management LP bought a new position in Intuit in the 4th quarter valued at approximately $538,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Evercore ISI raised their price objective on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Wells Fargo & Company raised their price target on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. JPMorgan Chase & Co. raised their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Jefferies Financial Group raised their price target on shares of Intuit from $760.00 to $770.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $679.41.

Read Our Latest Stock Analysis on Intuit

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,908 shares of company stock valued at $54,521,562. 2.90% of the stock is owned by company insiders.

Intuit Stock Down 0.4 %

NASDAQ INTU traded down $2.56 during mid-day trading on Monday, hitting $573.88. The company’s stock had a trading volume of 336,186 shares, compared to its average volume of 1,288,520. The company’s 50 day simple moving average is $629.49 and its 200 day simple moving average is $623.94. Intuit Inc. has a twelve month low of $419.30 and a twelve month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $160.43 billion, a price-to-earnings ratio of 53.18, a PEG ratio of 3.29 and a beta of 1.21.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm posted $7.80 EPS. Intuit’s revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 11.73 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

Intuit Profile

(Free Report)

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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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