Illinois Municipal Retirement Fund Has $13.59 Million Stake in Intuit Inc. (NASDAQ:INTU)

Illinois Municipal Retirement Fund grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 35.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,131 shares of the software maker's stock after purchasing an additional 5,806 shares during the period. Illinois Municipal Retirement Fund's holdings in Intuit were worth $13,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Copia Wealth Management bought a new stake in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in Intuit during the 4th quarter valued at $28,000. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer now owns 197 shares of the company's stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 271,158 shares of company stock worth $202,989,194. Insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of INTU traded up $3.71 during mid-day trading on Friday, reaching $776.57. The company had a trading volume of 2,051,675 shares, compared to its average volume of 1,613,491. The company has a market capitalization of $216.62 billion, a P/E ratio of 63.03, a P/E/G ratio of 3.37 and a beta of 1.28. The company's 50-day moving average is $696.71 and its 200-day moving average is $637.71. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $787.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the company posted $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INTU shares. Stifel Nicolaus lifted their target price on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Susquehanna reiterated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Evercore ISI upped their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, Bank of America upped their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $793.05.

Intuit Company 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.