Strs Ohio lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 232,531 shares of the software maker's stock after selling 7,978 shares during the period. Intuit comprises 0.6% of Strs Ohio's portfolio, making the stock its 22nd largest holding. Strs Ohio owned approximately 0.08% of Intuit worth $145,338,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. OFI Invest Asset Management acquired a new position in shares of Intuit in the third quarter valued at approximately $51,000. V Square Quantitative Management LLC raised its position in shares of Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker's stock valued at $1,558,000 after buying an additional 482 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of Intuit in the second quarter valued at approximately $285,000. Compagnie Lombard Odier SCmA raised its position in shares of Intuit by 27.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker's stock valued at $4,496,000 after buying an additional 1,900 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker's stock valued at $9,400,000 after buying an additional 2,074 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Intuit from $670.00 to $725.00 and gave the company a "buy" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $560.00 to $585.00 and gave the stock a "neutral" rating in a research report on Friday, February 23rd. Barclays increased their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an "overweight" rating in a research report on Friday, February 23rd. KeyCorp raised their price target on shares of Intuit from $700.00 to $720.00 and gave the company an "overweight" rating in a report on Wednesday, March 27th. Finally, Oppenheimer raised their price target on shares of Intuit from $678.00 to $712.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $645.00.
Get Our Latest Analysis on INTU
Intuit Stock Performance
Shares of Intuit stock traded down $6.60 during trading hours on Friday, reaching $621.11. The company's stock had a trading volume of 1,454,706 shares, compared to its average volume of 1,309,836. The company's 50 day simple moving average is $646.53 and its 200 day simple moving average is $596.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The stock has a market cap of $173.91 billion, a P/E ratio of 63.38, a price-to-earnings-growth ratio of 3.78 and a beta of 1.21.
Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the firm posted $1.05 EPS. The company's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.
Intuit Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.58%. Intuit's dividend payout ratio (DPR) is presently 36.73%.
Insider Buying and Selling
In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company's stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company's stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 in the last quarter. Company insiders own 2.90% of the company's stock.
About Intuit
(Free Report)
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.
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