Illinois Municipal Retirement Fund Decreases Position in Intuit Inc. (NASDAQ:INTU)

Illinois Municipal Retirement Fund decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 34.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,325 shares of the software maker’s stock after selling 8,460 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Intuit were worth $10,260,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Intuit during the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in Intuit during the fourth quarter worth approximately $29,000. Finally, Denver PWM LLC purchased a new stake in Intuit during the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $726.71.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Down 2.0 %

Shares of INTU stock opened at $555.63 on Wednesday. The business’s fifty day moving average price is $607.70 and its 200 day moving average price is $627.55. The firm has a market capitalization of $155.53 billion, a PE ratio of 53.94, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

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.