New York State Teachers Retirement System Sells 13,442 Shares of Intuit Inc. (NASDAQ:INTU)

New York State Teachers Retirement System lowered its position in Intuit Inc. (NASDAQ:INTU) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 256,956 shares of the software maker’s stock after selling 13,442 shares during the period. New York State Teachers Retirement System owned 0.09% of Intuit worth $159,570,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.8 %

Shares of INTU stock traded up $5.05 on Wednesday, hitting $628.75. 85,340 shares of the company’s stock traded hands, compared to its average volume of 1,311,147. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $175.77 billion, a price-to-earnings ratio of 57.54, a P/E/G ratio of 2.98 and a beta of 1.24. The company’s fifty day simple moving average is $624.96 and its 200 day simple moving average is $626.52. Intuit Inc. has a one year low of $481.94 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the company posted $0.40 EPS. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.66%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 38.38%.

Analysts Set New Price Targets

Several brokerages have recently commented on INTU. Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.