State of New Jersey Common Pension Fund D Has $57.97 Million Stake in Intuit Inc. $INTU

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Intuit Inc. by 8.6%, selling 8,839 shares during the 1st quarter, leaving them with a total of 94,421 shares valued at approximately $57.97 million.
• Analysts have a consensus price target of $806.27 for Intuit, with the majority giving it a "buy" or "overweight" rating, indicating positive growth expectations for the company's stock.
• Intuit recently announced a quarterly dividend of $1.04 per share, representing an annualized yield of 0.6%, with a dividend payout ratio of 33.77%.

State of New Jersey Common Pension Fund D trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,421 shares of the software maker's stock after selling 8,839 shares during the period. State of New Jersey Common Pension Fund D's holdings in Intuit were worth $57,974,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Intuit by 69,701.9% in 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 during the last quarter. Nuveen LLC bought a new stake in shares of Intuit during the first quarter valued at approximately $882,031,000. Nicholas Hoffman & Company LLC. bought a new stake in shares of Intuit during the first quarter valued at approximately $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 valued at $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Finally, Unisphere Establishment raised its holdings in shares of Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on INTU shares. Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. 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. Susquehanna reiterated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. HSBC upgraded 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. Finally, Oppenheimer raised their price objective on shares of Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $809.86.

Intuit Trading Down 2.3%

NASDAQ INTU traded down $16.18 on Tuesday, hitting $701.03. 2,506,388 shares of the stock were exchanged, compared to its average volume of 1,773,325. The company's 50-day moving average price is $762.81 and its two-hundred day moving average price is $672.81. The company has a market capitalization of $195.55 billion, a price-to-earnings ratio of 56.90, a P/E/G ratio of 2.76 and a beta of 1.28. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $9.88 EPS. Intuit has set its Q4 2025 guidance at 2.630-2.680 EPS. FY 2025 guidance at 20.070-20.120 EPS. Research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 in the last 90 days. 2.68% of the stock is owned by corporate 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.