Kentucky Retirement Systems lowered its stake in Intuit Inc. (NASDAQ:INTU) by 52.0% during the 4th quarter, HoldingsChannel reports. The firm owned 11,289 shares of the software maker’s stock after selling 12,229 shares during the quarter. Kentucky Retirement Systems’ holdings in Intuit were worth $2,222,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INTU. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Intuit during the 4th quarter valued at about $1,011,000. Headinvest LLC raised its position in Intuit by 95.4% in the 4th quarter. Headinvest LLC now owns 55,612 shares of the software maker’s stock worth $10,947,000 after purchasing an additional 27,151 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new stake in Intuit in the 4th quarter worth about $297,000. Nordea Investment Management AB raised its position in Intuit by 20.8% in the 4th quarter. Nordea Investment Management AB now owns 235,299 shares of the software maker’s stock worth $46,318,000 after purchasing an additional 40,574 shares during the period. Finally, PFG Advisors purchased a new stake in Intuit in the 4th quarter worth about $1,298,000. Institutional investors and hedge funds own 87.66% of the company’s stock.

INTU stock traded up $1.51 during mid-day trading on Thursday, reaching $256.89. The company had a trading volume of 18,547 shares, compared to its average volume of 1,457,548. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $66.63 billion, a P/E ratio of 57.07, a P/E/G ratio of 2.99 and a beta of 1.19. Intuit Inc. has a 12 month low of $166.51 and a 12 month high of $260.71.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 21st. The software maker reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.44. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. During the same period in the prior year, the firm earned $0.35 EPS. On average, research analysts expect that Intuit Inc. will post 5.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.73%. Intuit’s dividend payout ratio is currently 41.50%.

In other news, EVP Laura A. Fennell sold 67,488 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $251.43, for a total transaction of $16,968,507.84. Following the transaction, the executive vice president now directly owns 95,102 shares in the company, valued at $23,911,495.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 923 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $247.10, for a total transaction of $228,073.30. The disclosure for this sale can be found here. Insiders sold a total of 90,609 shares of company stock worth $22,757,853 over the last 90 days. Insiders own 4.60% of the company’s stock.

A number of analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of Intuit from $254.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley increased their price objective on shares of Intuit from $225.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Monday. Bank of America reissued a “buy” rating and issued a $264.00 price objective (up from $252.00) on shares of Intuit in a research report on Wednesday, March 6th. ValuEngine raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Finally, Zacks Investment Research lowered shares of Intuit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Intuit currently has a consensus rating of “Buy” and a consensus target price of $232.74.

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Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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