Public Employees Retirement System of Ohio Has $101.32 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Public Employees Retirement System of Ohio lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% in the third quarter, HoldingsChannel reports. The fund owned 163,149 shares of the software maker’s stock after selling 1,140 shares during the period. Public Employees Retirement System of Ohio’s holdings in Intuit were worth $101,316,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INTU. JPMorgan Chase & Co. upped their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Price Performance

Intuit stock opened at $646.47 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $180.96 billion, a PE ratio of 62.76, a P/E/G ratio of 3.19 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a 50-day moving average price of $635.08 and a two-hundred day moving average price of $630.54.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Analysts expect that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.64%. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,324 shares of company stock worth $75,803,690. 2.68% of the stock is currently owned by insiders.

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.