Teachers Retirement System of The State of Kentucky Purchases New Position in Intuit Inc. (NASDAQ:INTU)

Teachers Retirement System of The State of Kentucky purchased a new stake in Intuit Inc. (NASDAQ:INTU – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,868 shares of the software maker’s stock, valued at approximately $10,406,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in Intuit in the 3rd quarter valued at about $25,000. SRS Capital Advisors Inc. boosted its holdings in Intuit by 81.0% in the 2nd quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock valued at $29,000 after purchasing an additional 34 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in Intuit in the 3rd quarter valued at about $49,000. Eagle Bay Advisors LLC bought a new stake in Intuit in the 2nd quarter valued at about $52,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in Intuit by 23.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 161 shares of the software maker’s stock valued at $62,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 82.65% of the company’s stock.

Insider Buying and Selling

In related news, EVP James Alexander Chriss sold 597 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now directly owns 344 shares of the company’s stock, valued at $137,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP James Alexander Chriss sold 597 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now directly owns 344 shares of the company’s stock, valued at $137,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 545 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the completion of the transaction, the chief financial officer now directly owns 1,350 shares in the company, valued at $568,863. The disclosure for this sale can be found here. Insiders have sold a total of 7,925 shares of company stock valued at $3,258,123 over the last ninety days. 3.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INTU shares. Morgan Stanley cut their price target on shares of Intuit from $550.00 to $520.00 and set an “overweight” rating for the company in a report on Tuesday, November 22nd. BMO Capital Markets upped their price target on shares of Intuit from $448.00 to $462.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Citigroup upped their price target on shares of Intuit from $457.00 to $475.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Credit Suisse Group assumed coverage on shares of Intuit in a research report on Monday, November 21st. They set an “outperform” rating and a $500.00 price objective for the company. Finally, Jefferies Financial Group lowered their price objective on shares of Intuit from $575.00 to $525.00 in a research report on Wednesday, November 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $483.53.

Intuit Trading Up 2.9 %

INTU opened at $418.15 on Friday. Intuit Inc. has a twelve month low of $339.36 and a twelve month high of $507.71. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $408.03 and a 200-day moving average of $404.37. The stock has a market cap of $117.31 billion, a PE ratio of 61.31, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16.

Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The software maker reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.76. Intuit had a net margin of 14.22% and a return on equity of 14.89%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the company posted $0.67 earnings per share. Intuit’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts predict that Intuit Inc. will post 9.04 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 18th. Investors of record on Monday, April 10th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, April 6th. Intuit’s dividend payout ratio is presently 45.75%.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.