California Public Employees Retirement System Buys 16,156 Shares of Intuit Inc. (INTU)
California Public Employees Retirement System lifted its stake in Intuit Inc. (NASDAQ:INTU) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 578,456 shares of the software maker’s stock after acquiring an additional 16,156 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Intuit worth $82,222,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Oakbrook Investments LLC grew its holdings in Intuit by 118.1% during the third quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock worth $3,045,000 after purchasing an additional 11,600 shares during the period. Comgest Global Investors S.A.S. grew its holdings in Intuit by 2.4% during the second quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock worth $58,433,000 after purchasing an additional 10,400 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Intuit by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock worth $53,363,000 after purchasing an additional 1,870 shares during the period. Schroder Investment Management Group grew its holdings in Intuit by 218.4% during the second quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock worth $30,483,000 after purchasing an additional 157,101 shares during the period. Finally, Asset Advisors Corp grew its holdings in Intuit by 2.5% during the third quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock worth $13,157,000 after purchasing an additional 2,300 shares during the period. 86.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ INTU) opened at $155.85 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. Intuit Inc. has a 1 year low of $111.90 and a 1 year high of $158.90. The firm has a market cap of $39,684.54, a P/E ratio of 41.51, a PEG ratio of 2.79 and a beta of 1.18.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. analysts predict that Intuit Inc. will post 3.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be given a $0.39 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.00%. Intuit’s payout ratio is 41.38%.
In other news, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total value of $26,618,118.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $151.46, for a total transaction of $27,767,767.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 879,480 shares of company stock valued at $132,586,537. 5.59% of the stock is owned by company insiders.
A number of research firms recently commented on INTU. Zacks Investment Research cut Intuit from a “hold” rating to a “sell” rating in a report on Monday, November 27th. Morgan Stanley boosted their price objective on Intuit from $110.00 to $120.00 and gave the stock an “underweight” rating in a report on Tuesday, November 21st. Oppenheimer restated a “buy” rating and set a $166.00 price objective (up previously from $159.00) on shares of Intuit in a report on Tuesday, November 21st. UBS boosted their price objective on Intuit from $152.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, November 21st. Finally, Wells Fargo & Company restated an “outperform” rating and set a $180.00 price objective (up previously from $163.00) on shares of Intuit in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $152.89.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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