New York State Teachers Retirement System Sells 12,848 Shares of Intuit Inc. (NASDAQ:INTU)

New York State Teachers Retirement System lessened its position in Intuit Inc. (NASDAQ:INTU) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,108 shares of the software maker’s stock after selling 12,848 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Intuit worth $153,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INTU. R Squared Ltd bought a new position in Intuit in the fourth quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the third quarter worth about $27,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the fourth quarter worth about $29,000. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 1.3 %

Shares of NASDAQ INTU opened at $583.90 on Friday. The stock has a market capitalization of $163.45 billion, a price-to-earnings ratio of 56.69, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The firm’s 50-day moving average price is $622.69 and its 200-day moving average price is $630.67. 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) last issued its quarterly 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INTU. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.