Intuit Inc. (NASDAQ:INTU) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its holdings in Intuit Inc. (NASDAQ:INTU) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,039 shares of the software maker’s stock after selling 1,871 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Intuit were worth $26,025,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of INTU. DiNuzzo Private Wealth Inc. acquired a new position in Intuit in the fourth quarter valued at $25,000. West Branch Capital LLC increased its stake in shares of Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after acquiring an additional 19 shares during the period. MCF Advisors LLC increased its stake in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Intuit during the fourth quarter worth about $38,000. Finally, Sachetta LLC acquired a new position in shares of Intuit during the fourth quarter worth about $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 0.5 %

Shares of Intuit stock traded up $3.19 during trading hours on Monday, hitting $636.55. The company’s stock had a trading volume of 321,736 shares, compared to its average volume of 1,324,268. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The business has a fifty day moving average of $623.96 and a 200 day moving average of $633.06. The company has a market capitalization of $177.95 billion, a PE ratio of 58.43, a P/E/G ratio of 3.62 and a beta of 1.23. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.80 earnings per share. As a group, equities analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold 195,963 shares of company stock worth $114,442,445 in the last ninety days. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTU. Piper Sandler reiterated an “overweight” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, July 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $770.00 price target on shares of Intuit in a report on Thursday, June 13th. KeyCorp upped their price target on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Royal Bank of Canada began coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target on the stock. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $694.27.

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.