Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,598 shares of the software maker’s stock after selling 1,257 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Intuit were worth $37,457,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter worth about $29,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research report on Wednesday, February 26th. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Up 0.7 %

NASDAQ INTU opened at $603.11 on Thursday. The stock has a market cap of $168.61 billion, a P/E ratio of 58.55, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a fifty day simple moving average of $596.98 and a two-hundred day simple moving average of $623.15.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,646 shares of company stock worth $72,494,045. 2.68% of the stock is currently owned by insiders.

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.