California State Teachers Retirement System trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 412,223 shares of the software maker’s stock after selling 38,070 shares during the period. California State Teachers Retirement System owned 0.16% of Intuit worth $58,593,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of INTU. Bessemer Group Inc. lifted its position in shares of Intuit by 18.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,891 shares of the software maker’s stock worth $384,000 after purchasing an additional 455 shares during the period. Teacher Retirement System of Texas lifted its position in Intuit by 194.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 31,581 shares of the software maker’s stock valued at $4,194,000 after acquiring an additional 20,838 shares during the period. Dupont Capital Management Corp lifted its position in Intuit by 2.8% during the 2nd quarter. Dupont Capital Management Corp now owns 21,591 shares of the software maker’s stock valued at $2,868,000 after acquiring an additional 595 shares during the period. LMR Partners LLP purchased a new position in Intuit during the 2nd quarter valued at about $1,163,000. Finally, State of Wisconsin Investment Board lifted its position in Intuit by 55.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 254,416 shares of the software maker’s stock valued at $33,789,000 after acquiring an additional 90,420 shares during the period. 86.28% of the stock is owned by hedge funds and other institutional investors.
In other Intuit news, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $151.46, for a total transaction of $27,767,767.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark J. Flournoy sold 13,424 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $155.56, for a total transaction of $2,088,237.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 879,480 shares of company stock valued at $132,586,537. 5.59% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the stock. First Analysis raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price target for the company in a research report on Wednesday, August 23rd. William Blair assumed coverage on shares of Intuit in a research report on Tuesday, September 19th. They set an “outperform” rating for the company. UBS cut shares of Intuit to an “underperform” rating in a research report on Wednesday, September 27th. Wells Fargo & Company raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 price target for the company in a research report on Thursday, September 21st. Finally, Royal Bank of Canada reissued a “hold” rating and set a $141.00 price target on shares of Intuit in a research report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $152.89.
Shares of Intuit Inc. (NASDAQ INTU) opened at $156.48 on Thursday. The firm has a market cap of $39,843.04, a PE ratio of 41.67, a price-to-earnings-growth ratio of 2.81 and a beta of 1.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67. Intuit Inc. has a 12 month low of $111.90 and a 12 month high of $158.90.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.30. The business had revenue of $886.00 million during the quarter, compared to analyst estimates of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. Intuit’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. equities research analysts predict that Intuit Inc. will post 3.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.39 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a yield of 1.00%. Intuit’s dividend payout ratio is currently 41.38%.
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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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