Intuit Inc. (NASDAQ:INTU) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 19.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,271 shares of the software maker's stock after selling 25,227 shares during the quarter. Teacher Retirement System of Texas' holdings in Intuit were worth $62,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Arlington Trust Co LLC grew its position in Intuit by 5.5% in the first quarter. Arlington Trust Co LLC now owns 2,210 shares of the software maker's stock worth $1,357,000 after acquiring an additional 116 shares during the period. Pinnacle Financial Partners Inc lifted its stake in shares of Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after purchasing an additional 623 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of Intuit by 13.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,056 shares of the software maker's stock worth $648,000 after purchasing an additional 123 shares during the period. FSM Wealth Advisors LLC increased its position in shares of Intuit by 2.5% during the 1st quarter. FSM Wealth Advisors LLC now owns 2,686 shares of the software maker's stock worth $1,649,000 after purchasing an additional 66 shares during the last quarter. Finally, Wilson Asset Management International PTY Ltd. raised its holdings in Intuit by 8.5% in the 1st quarter. Wilson Asset Management International PTY Ltd. now owns 37,377 shares of the software maker's stock valued at $22,949,000 after buying an additional 2,921 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $773.70 on Thursday. The stock has a market cap of $215.82 billion, a P/E ratio of 62.80, a P/E/G ratio of 3.47 and a beta of 1.27. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60. The stock has a 50 day moving average of $712.39 and a two-hundred day moving average of $640.96. 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 issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping 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 firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 EPS. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. On average, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and issued a $789.00 target price (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Oppenheimer reiterated an "outperform" rating and set a $742.00 price target (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, KeyCorp reissued an "overweight" rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer owned 197 shares in the company, valued at $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president owned 22,796 shares of the company's stock, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,896 shares of company stock worth $204,351,942. 2.68% of the stock is currently owned by insiders.

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.

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