Public Employees Retirement System of Ohio Has $85.38 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Public Employees Retirement System of Ohio reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,851 shares of the software maker's stock after selling 27,298 shares during the period. Public Employees Retirement System of Ohio's holdings in Intuit were worth $85,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of INTU. Ameritas Advisory Services LLC boosted its stake in Intuit by 187.0% during the 4th quarter. Ameritas Advisory Services LLC now owns 1,016 shares of the software maker's stock valued at $639,000 after purchasing an additional 662 shares during the period. Koshinski Asset Management Inc. raised its stake in shares of Intuit by 11.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 1,090 shares of the software maker's stock valued at $685,000 after purchasing an additional 116 shares in the last quarter. Pure Financial Advisors LLC bought a new position in Intuit in the 4th quarter valued at about $204,000. XML Financial LLC increased its stake in Intuit by 20.1% during the 4th quarter. XML Financial LLC now owns 395 shares of the software maker's stock valued at $248,000 after buying an additional 66 shares during the period. Finally, Park Place Capital Corp raised its position in shares of Intuit by 15.7% during the 4th quarter. Park Place Capital Corp now owns 310 shares of the software maker's stock worth $195,000 after buying an additional 42 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. Citigroup boosted their price objective on Intuit from $726.00 to $789.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday. Oppenheimer upped their price target on shares of Intuit from $642.00 to $742.00 and gave the company an "outperform" rating in a report on Friday. Finally, HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit Stock Up 8.1%

NASDAQ:INTU traded up $54.06 on Friday, hitting $720.13. 5,325,389 shares of the company's stock traded hands, compared to its average volume of 1,619,458. The firm has a 50-day moving average price of $616.76 and a 200-day moving average price of $620.65. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $734.18. The company has a market cap of $201.32 billion, a PE ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.