Illinois Municipal Retirement Fund Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Illinois Municipal Retirement Fund lowered its position in Intuit Inc. (NASDAQ:INTU) by 34.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,325 shares of the software maker’s stock after selling 8,460 shares during the period. Illinois Municipal Retirement Fund’s holdings in Intuit were worth $10,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Intuit by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares in the last quarter. Brown Financial Advisors lifted its holdings in Intuit by 11.0% in the 4th quarter. Brown Financial Advisors now owns 1,820 shares of the software maker’s stock valued at $1,144,000 after purchasing an additional 181 shares in the last quarter. BankPlus Trust Department purchased a new position in Intuit in the 4th quarter valued at $61,000. Impax Asset Management Group plc lifted its holdings in Intuit by 0.6% in the 4th quarter. Impax Asset Management Group plc now owns 22,392 shares of the software maker’s stock valued at $14,073,000 after purchasing an additional 144 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in Intuit by 22.9% in the 4th quarter. Crestwood Advisors Group LLC now owns 2,043 shares of the software maker’s stock valued at $1,284,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $555.63 on Wednesday. The company has a market cap of $155.53 billion, a P/E ratio of 53.94, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50-day moving average of $607.70 and a two-hundred day moving average of $627.55. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INTU shares. Piper Sandler restated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen 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 a consensus target price of $726.71.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 in the last three months. 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.