Teachers Retirement System of The State of Kentucky Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Teachers Retirement System of The State of Kentucky raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,184 shares of the software maker's stock after buying an additional 991 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Intuit were worth $21,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. Vanguard Group Inc. increased its holdings in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Norges Bank acquired a new position in shares of Intuit during the 4th quarter worth approximately $2,290,419,000. Finally, Brown Advisory Inc. grew its position in shares of Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after purchasing an additional 252,265 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the transaction, the chief accounting officer owned 455 shares of the company's stock, valued at approximately $356,760.95. The trade was a 79.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the transaction, the executive vice president directly owned 19 shares of the company's stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 over the last ninety days. Corporate insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

INTU has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. UBS Group set a $750.00 price objective on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Barclays restated an "overweight" rating and set a $815.00 price target (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

Intuit Trading Up 0.7%

Shares of INTU stock traded up $5.48 during trading hours on Thursday, reaching $781.48. The company's stock had a trading volume of 498,447 shares, compared to its average volume of 1,773,421. The stock has a market capitalization of $217.99 billion, a P/E ratio of 63.43, a P/E/G ratio of 3.40 and a beta of 1.27. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The firm's fifty day simple moving average is $750.68 and its 200 day simple moving average is $653.55. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company posted $9.88 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, July 10th. Intuit's payout ratio is 33.77%.

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.