Public Employees Retirement Association of Colorado Sells 2,837 Shares of Intuit Inc. (INTU)
Public Employees Retirement Association of Colorado cut its position in Intuit Inc. (NASDAQ:INTU) by 6.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 44,196 shares of the software maker’s stock after selling 2,837 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Intuit were worth $6,282,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Canada Pension Plan Investment Board raised its holdings in Intuit by 27.1% in the third quarter. Canada Pension Plan Investment Board now owns 421,117 shares of the software maker’s stock worth $59,858,000 after buying an additional 89,900 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Intuit by 52.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 55,003 shares of the software maker’s stock worth $7,818,000 after buying an additional 18,953 shares during the last quarter. Traynor Capital Management Inc. purchased a new position in Intuit in the third quarter worth about $208,000. Crossmark Global Holdings Inc. purchased a new position in Intuit in the third quarter worth about $2,884,000. Finally, Sumitomo Mitsui Asset Management Company LTD raised its holdings in Intuit by 1.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 226,767 shares of the software maker’s stock worth $32,232,000 after buying an additional 2,143 shares during the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.
Intuit Inc. (INTU) opened at $153.64 on Friday. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $154.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $39,174.20, a price-to-earnings ratio of 40.75, a PEG ratio of 2.71 and a beta of 1.18.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. research analysts expect that Intuit Inc. will post 4.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th were paid a dividend of $0.39 per share. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.02%. Intuit’s dividend payout ratio is presently 41.94%.
In other Intuit news, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $135.22, for a total transaction of $24,790,423.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total transaction of $257,108.60. Following the transaction, the executive vice president now owns 2,675 shares in the company, valued at approximately $385,735. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,084,194 shares of company stock worth $151,162,540. 5.70% of the stock is owned by insiders.
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Several research analysts have issued reports on INTU shares. Wells Fargo & Company raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price for the company in a report on Thursday, September 21st. Raymond James Financial, Inc. cut shares of Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a report on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $141.00 target price on shares of Intuit in a report on Thursday, August 24th. Finally, William Blair started coverage on shares of Intuit in a research note on Tuesday, September 19th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Intuit presently has an average rating of “Hold” and an average price target of $143.42.
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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