New York State Common Retirement Fund Trims Holdings in Intuit Inc. (NASDAQ:INTU)

New York State Common Retirement Fund cut its holdings in Intuit Inc. (NASDAQ:INTU) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,332 shares of the software maker’s stock after selling 26,659 shares during the quarter. New York State Common Retirement Fund owned approximately 0.15% of Intuit worth $258,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. MCF Advisors LLC boosted its stake in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. NewSquare Capital LLC bought a new position in Intuit in the 3rd quarter worth about $25,000. Cape Investment Advisory Inc. bought a new position in Intuit in the 3rd quarter worth about $26,000. Steward Financial Group LLC boosted its stake in Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Intuit during the 4th quarter valued at about $38,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 0.8 %

Shares of NASDAQ:INTU traded up $4.60 on Monday, hitting $609.77. 1,056,202 shares of the company’s stock were exchanged, compared to its average volume of 1,246,259. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The stock has a market capitalization of $170.74 billion, a price-to-earnings ratio of 62.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21. The business’s 50 day simple moving average is $642.93 and its two-hundred day simple moving average is $600.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. Analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 over the last quarter. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on INTU shares. Susquehanna upped their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. KeyCorp upped their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Mizuho upped their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Evercore ISI upped their price target on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.00.

Intuit Profile

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.