Stevens Capital Management LP Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Stevens Capital Management LP trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 50.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 814 shares of the software maker's stock after selling 843 shares during the quarter. Stevens Capital Management LP's holdings in Intuit were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. Nordea Investment Management AB increased its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in Intuit in the fourth quarter worth about $621,000. Beacon Investment Advisory Services Inc. raised its stake in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after buying an additional 1,602 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after buying an additional 3,648 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its stake in shares of Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after acquiring an additional 12,916 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have commented on INTU shares. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Scotiabank dropped their target price on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. StockNews.com cut Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $721.61.

Intuit Trading Up 0.4 %

NASDAQ INTU traded up $2.36 on Thursday, hitting $617.22. 472,272 shares of the stock were exchanged, compared to its average volume of 1,437,860. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The firm has a market capitalization of $172.55 billion, a P/E ratio of 59.98, a P/E/G ratio of 2.85 and a beta of 1.27. 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 stock has a fifty day moving average price of $595.84 and a two-hundred day moving average price of $622.71.

Intuit Dividend Announcement

The company 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 $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is currently 38.81%.

Insiders Place Their Bets

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 109 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now 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. Insiders sold a total of 132,896 shares of company stock valued at $82,946,716 over the last 90 days. Insiders own 2.68% of the company's stock.

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.