Kentucky Retirement Systems Insurance Trust Fund Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 21.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,087 shares of the software maker’s stock after purchasing an additional 1,810 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Intuit were worth $6,340,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Kestra Investment Management LLC lifted its holdings in shares of Intuit by 31.1% during the fourth quarter. Kestra Investment Management LLC now owns 497 shares of the software maker’s stock worth $312,000 after purchasing an additional 118 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Intuit by 14.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 6,241 shares of the software maker’s stock worth $3,922,000 after buying an additional 804 shares during the last quarter. GAM Holding AG increased its position in Intuit by 17.1% during the 4th quarter. GAM Holding AG now owns 20,421 shares of the software maker’s stock worth $12,835,000 after purchasing an additional 2,985 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Intuit by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 9,787 shares of the software maker’s stock valued at $6,152,000 after buying an additional 184 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Intuit by 7.5% in the 4th quarter. CIBC Asset Management Inc now owns 114,479 shares of the software maker’s stock valued at $71,950,000 after buying an additional 7,982 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on INTU shares. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Up 0.6 %

Shares of NASDAQ INTU opened at $587.38 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $164.42 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a 50-day moving average price of $620.21 and a two-hundred day moving average price of $629.84.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

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.