Blueshift Asset Management LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Blueshift Asset Management LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 4,599 shares of the software maker’s stock after buying an additional 150 shares during the quarter. Intuit comprises about 0.7% of Blueshift Asset Management LLC’s portfolio, making the stock its 23rd biggest position. Blueshift Asset Management LLC’s holdings in Intuit were worth $2,856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Silvercrest Asset Management Group LLC grew its position in Intuit by 15.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 10,769 shares of the software maker’s stock worth $7,000,000 after buying an additional 1,468 shares in the last quarter. Redwood Investment Management LLC purchased a new position in shares of Intuit during the first quarter worth about $344,000. Tidal Investments LLC increased its position in shares of Intuit by 42.0% in the first quarter. Tidal Investments LLC now owns 14,136 shares of the software maker’s stock worth $9,188,000 after purchasing an additional 4,182 shares during the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in Intuit in the first quarter valued at approximately $211,000. Finally, New Covenant Trust Company N.A. bought a new stake in Intuit during the first quarter valued at approximately $131,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on INTU shares. Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,265 shares of company stock worth $35,200,125. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU stock opened at $638.83 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $178.90 billion, a P/E ratio of 62.02, a P/E/G ratio of 3.14 and a beta of 1.25. The business’s 50 day moving average price is $634.46 and its 200-day moving average price is $631.29. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

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

Intuit Dividend Announcement

The company also recently disclosed 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 is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.65%. Intuit’s payout ratio is 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.