Kentucky Retirement Systems Sells 265 Shares of Intuit Inc. (NASDAQ:INTU)

Kentucky Retirement Systems reduced its position in Intuit Inc. (NASDAQ:INTU) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 19,210 shares of the software maker’s stock after selling 265 shares during the period. Kentucky Retirement Systems’ holdings in Intuit were worth $12,073,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Intuit by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after purchasing an additional 26,914 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on INTU shares. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last three months. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Down 0.5 %

Shares of Intuit stock opened at $579.08 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a market cap of $162.10 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 2.87 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $614.05 and its 200-day moving average price is $628.50.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

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.