Teachers Retirement System of The State of Kentucky Has $24.51 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,299 shares of the software maker’s stock after selling 1,937 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Intuit were worth $24,513,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new stake in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Intuit in the second quarter valued at approximately $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The disclosure for this sale can be found here. Insiders have sold 51,583 shares of company stock valued at $32,975,909 over the last three months. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INTU shares. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group upped their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets upped their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Up 0.3 %

NASDAQ INTU opened at $621.00 on Tuesday. The company has a market cap of $173.60 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $634.62 and a 200-day moving average of $630.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $0.40 EPS. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

Intuit Company 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.