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

Illinois Municipal Retirement Fund cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 36.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,493 shares of the software maker’s stock after selling 9,474 shares during the period. Illinois Municipal Retirement Fund’s holdings in Intuit were worth $10,309,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Desjardins Global Asset Management Inc. grew its stake in shares of Intuit by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the period. GAM Holding AG lifted its holdings in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares in the last quarter. Janiczek Wealth Management LLC lifted its holdings in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after acquiring an additional 17 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of Intuit by 0.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after acquiring an additional 18 shares in the last quarter. Finally, Glenview Trust co lifted its holdings in shares of Intuit by 1.9% during the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after acquiring an additional 19 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTU. Stifel Nicolaus lifted their target price on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Oppenheimer lifted their target price on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. KeyCorp lifted their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Susquehanna lifted their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Mizuho lifted their target price on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.00.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last quarter. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $20.80 during trading on Tuesday, reaching $630.57. 465,061 shares of the company’s stock traded hands, compared to its average volume of 1,235,687. 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 Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a 50 day moving average of $641.98 and a 200-day moving average of $600.94. The stock has a market capitalization of $176.56 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

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.