Public Employees Retirement Association of Colorado Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Public Employees Retirement Association of Colorado lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,889 shares of the software maker's stock after selling 1,065 shares during the period. Public Employees Retirement Association of Colorado's holdings in Intuit were worth $23,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Intuit during the 4th quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC lifted its stake in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Intuit by 13.3% in the 4th 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Intuit during the 4th quarter worth about $300,854,000. Finally, Capital Research Global Investors acquired a new stake in shares of Intuit during the fourth quarter valued at approximately $227,910,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

Shares of NASDAQ INTU traded up $4.32 during trading hours on Wednesday, reaching $627.47. 1,313,935 shares of the stock traded hands, compared to its average volume of 1,580,448. The company has a market capitalization of $175.42 billion, a P/E ratio of 60.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The company's 50-day simple moving average is $596.32 and its two-hundred day simple moving average is $616.22.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit's payout ratio is 38.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INTU shares. BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. Citigroup decreased their price target on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Morgan Stanley lowered their price target on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target of $717.53.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate 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.