Intuit Inc. (NASDAQ:INTU) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in Intuit Inc. (NASDAQ:INTU) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,184 shares of the software maker’s stock after acquiring an additional 991 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Intuit were worth $21,603,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Pinnacle Financial Partners Inc increased its position in shares of Intuit by 3.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker’s stock valued at $10,922,000 after purchasing an additional 623 shares during the period. Capitolis Liquid Global Markets LLC purchased a new position in Intuit in the fourth quarter valued at about $109,988,000. Financial Gravity Asset Management Inc. purchased a new position in Intuit in the first quarter valued at about $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Intuit during the 4th quarter worth about $237,244,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Intuit by 16.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker’s stock worth $4,240,000 after acquiring an additional 962 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on INTU. Citigroup reissued a “buy” rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. CLSA began coverage on Intuit in a research report on Thursday, June 26th. They set an “outperform” rating and a $900.00 price target on the stock. Stifel Nicolaus increased their price objective on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Barclays reaffirmed an “overweight” rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $800.55.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 16,061 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the transaction, the chief financial officer owned 197 shares of the company’s stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Marianna Tessel sold 34,329 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the sale, the executive vice president owned 40,767 shares in the company, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $752.63 on Monday. The company has a market capitalization of $209.94 billion, a P/E ratio of 61.09, a price-to-earnings-growth ratio of 3.34 and a beta of 1.27. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $743.99 and a 200 day moving average of $650.97. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm posted $9.88 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Thursday, July 10th. Intuit’s payout ratio is 33.77%.

About Intuit

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.