New York State Teachers Retirement System Sells 14,259 Shares of Intuit Inc. (NASDAQ:INTU)

New York State Teachers Retirement System lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,849 shares of the software maker's stock after selling 14,259 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Intuit worth $141,125,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of INTU. Norges Bank bought a new stake in Intuit during the fourth quarter worth about $2,290,419,000. GAMMA Investing LLC boosted its stake in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment lifted its stake in shares of Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after buying an additional 500,000 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.5%

Shares of INTU stock opened at $776.57 on Monday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $787.22. The stock has a market cap of $216.62 billion, a P/E ratio of 63.03, a P/E/G ratio of 3.45 and a beta of 1.28. 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 company has a 50 day simple moving average of $700.54 and a two-hundred day simple moving average of $638.14.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 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 business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company earned $9.88 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. On average, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BMO Capital Markets reiterated an "outperform" rating and issued a $820.00 target price (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. JPMorgan Chase & Co. upped their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Susquehanna reiterated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their target price for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Finally, Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Intuit has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,738 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the sale, the chief accounting officer now directly owns 455 shares of the company's stock, valued at approximately $356,760.95. This trade represents a 79.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 272,896 shares of company stock valued at $204,351,942. Insiders own 2.68% of the company's stock.

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.

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