Louisiana State Employees Retirement System boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% during the first quarter, HoldingsChannel.com reports. The firm owned 13,700 shares of the software maker’s stock after acquiring an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Intuit were worth $3,581,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. CX Institutional increased its holdings in Intuit by 85.5% during the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock valued at $27,000 after purchasing an additional 47 shares during the period. Athena Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at about $28,000. We Are One Seven LLC purchased a new position in shares of Intuit during the 4th quarter worth approximately $33,000. Berman Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter worth approximately $34,000. Finally, Moody National Bank Trust Division purchased a new position in shares of Intuit during the 4th quarter worth approximately $35,000. Institutional investors own 87.69% of the company’s stock.
Shares of Intuit stock traded up $0.84 during midday trading on Monday, hitting $260.90. The company had a trading volume of 28,445 shares, compared to its average volume of 1,496,494. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $67.37 billion, a P/E ratio of 57.51, a PEG ratio of 3.02 and a beta of 1.19. Intuit Inc. has a 52-week low of $171.11 and a 52-week high of $272.14.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.72%. Intuit’s payout ratio is currently 41.50%.
INTU has been the topic of a number of research analyst reports. Guggenheim upped their target price on Intuit from $260.00 to $310.00 in a report on Thursday. Credit Suisse Group reiterated an “outperform” rating and set a $255.00 target price (up previously from $250.00) on shares of Intuit in a report on Tuesday, January 22nd. Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. BidaskClub upgraded Intuit from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Finally, Goldman Sachs Group reiterated a “neutral” rating and set a $212.00 target price on shares of Intuit in a report on Friday, February 1st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $240.00.
In related news, EVP James Alexander Chriss sold 923 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $247.10, for a total value of $228,073.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Mark J. Flournoy sold 5,939 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $251.18, for a total value of $1,491,758.02. Following the completion of the sale, the vice president now owns 3,626 shares in the company, valued at approximately $910,778.68. The disclosure for this sale can be found here. Insiders sold a total of 90,609 shares of company stock worth $22,757,853 in the last 90 days. 4.60% of the stock is currently owned by company insiders.
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Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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