State of Tennessee Treasury Department Sells 1,048 Shares of Intuit Inc. (NASDAQ:INTU)

State of Tennessee Treasury Department trimmed its position in Intuit Inc. (NASDAQ:INTU) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 114,998 shares of the software maker’s stock after selling 1,048 shares during the period. State of Tennessee Treasury Department’s holdings in Intuit were worth $71,877,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in INTU. Burney Co. boosted its stake in Intuit by 5.0% in the third quarter. Burney Co. now owns 1,081 shares of the software maker’s stock valued at $552,000 after acquiring an additional 51 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Intuit by 19.6% during the 3rd quarter. HighTower Advisors LLC now owns 62,850 shares of the software maker’s stock valued at $32,335,000 after buying an additional 10,299 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Intuit by 45.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 34,984 shares of the software maker’s stock valued at $17,875,000 after buying an additional 10,974 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Intuit during the 3rd quarter valued at approximately $223,000. Finally, Boston Financial Mangement LLC lifted its stake in shares of Intuit by 1.2% during the 3rd quarter. Boston Financial Mangement LLC now owns 9,013 shares of the software maker’s stock valued at $4,605,000 after buying an additional 103 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Susquehanna lowered their target price on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Stifel Nicolaus decreased their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Evercore ISI increased their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $679.41.

Intuit Trading Up 0.2 %

INTU traded up $1.25 during trading on Friday, hitting $573.90. 1,048,593 shares of the stock traded hands, compared to its average volume of 1,577,047. The firm has a market capitalization of $160.43 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 3.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50-day moving average of $622.14 and a 200 day moving average of $623.89. Intuit Inc. has a 12-month low of $419.30 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the company posted $7.80 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.63%. Intuit’s dividend payout ratio is 33.21%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 14,748 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the sale, the insider now directly owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,908 shares of company stock valued at $54,521,562. Company insiders own 2.90% of the company’s stock.

Intuit Profile

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.