Blueshift Asset Management LLC Has $2.86 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Blueshift Asset Management LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,599 shares of the software maker’s stock after buying an additional 150 shares during the period. Intuit comprises approximately 0.7% of Blueshift Asset Management LLC’s portfolio, making the stock its 23rd largest position. Blueshift Asset Management LLC’s holdings in Intuit were worth $2,856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its holdings in Intuit by 2.4% in the third quarter. Glenmede Trust Co. NA now owns 15,647 shares of the software maker’s stock valued at $9,717,000 after purchasing an additional 361 shares during the period. Freedom Investment Management Inc. grew its position in shares of Intuit by 8.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 2,931 shares of the software maker’s stock valued at $1,820,000 after buying an additional 221 shares during the last quarter. Fernbridge Capital Management LP increased its stake in shares of Intuit by 10.9% in the third quarter. Fernbridge Capital Management LP now owns 130,902 shares of the software maker’s stock valued at $81,290,000 after buying an additional 12,822 shares during the period. Townsquare Capital LLC raised its position in shares of Intuit by 11.9% during the third quarter. Townsquare Capital LLC now owns 15,000 shares of the software maker’s stock worth $9,315,000 after acquiring an additional 1,595 shares during the last quarter. Finally, Cadence Bank acquired a new position in shares of Intuit in the third quarter worth approximately $1,598,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 99.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Up 0.7 %

Shares of NASDAQ:INTU opened at $638.83 on Wednesday. The stock has a market cap of $178.90 billion, a price-to-earnings ratio of 62.02, a PEG ratio of 3.14 and a beta of 1.25. The business’s 50 day moving average is $634.46 and its 200 day moving average is $631.29. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. Intuit’s dividend payout ratio is currently 40.39%.

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.