New York State Teachers Retirement System Decreases Holdings in Intuit Inc. (NASDAQ:INTU)

New York State Teachers Retirement System reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,108 shares of the software maker’s stock after selling 12,848 shares during the period. New York State Teachers Retirement System’s holdings in Intuit were worth $153,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. R Squared Ltd acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the third quarter worth $27,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the fourth quarter worth $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

NASDAQ:INTU opened at $583.90 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $163.45 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 2.91 and a beta of 1.24. The company’s 50-day moving average is $622.69 and its two-hundred day moving average is $630.67. Intuit Inc. has a 1-year low of $557.29 and a 1-year 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. 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 analyst estimates of $3.14 billion. During the same period in the prior year, the business posted $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s dividend payout ratio is currently 40.39%.

Intuit Company 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.