Kentucky Retirement Systems Has $11.45 Million Position in Intuit Inc. (NASDAQ:INTU)

Kentucky Retirement Systems reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,650 shares of the software maker's stock after selling 560 shares during the quarter. Kentucky Retirement Systems' holdings in Intuit were worth $11,451,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares in the last quarter. Capitolis Liquid Global Markets LLC bought a new stake in shares of Intuit during the fourth quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Intuit during the fourth quarter worth $237,244,000. Aigen Investment Management LP bought a new stake in shares of Intuit during the fourth quarter worth $2,958,000. Finally, Baer Investment Advisory LLC bought a new stake in shares of Intuit during the fourth quarter worth $3,261,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Bank of America increased their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. BMO Capital Markets restated an "outperform" rating and set a $820.00 target price (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $787.95.

Intuit Trading Up 0.8%

NASDAQ:INTU opened at $761.14 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45. The business's 50-day moving average price is $682.89 and its two-hundred day moving average price is $634.43. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $212.32 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 3.39 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its 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 firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.09 earnings per share 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 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of the firm'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 SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer now directly owns 197 shares in the company, valued at approximately $143,047.61. This represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,321 shares of company stock valued at $207,988,705. 2.68% of the stock is currently owned by company insiders.

About Intuit

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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