Blueshift Asset Management LLC Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Blueshift Asset Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,511 shares of the software maker’s stock after selling 1,088 shares during the quarter. Intuit makes up approximately 0.8% of Blueshift Asset Management LLC’s holdings, making the stock its 15th biggest holding. Blueshift Asset Management LLC’s holdings in Intuit were worth $2,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new position in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC lifted its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Citigroup decreased their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Price Performance

Shares of INTU opened at $603.11 on Thursday. 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 $553.24 and a 52 week high of $714.78. The stock has a 50 day moving average of $596.98 and a 200-day moving average of $623.15. The firm has a market cap of $168.61 billion, a price-to-earnings ratio of 58.55, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Insider Activity

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,646 shares of company stock valued at $72,494,045. 2.68% of the stock is currently owned by insiders.

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.