Public Employees Retirement Association of Colorado Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Public Employees Retirement Association of Colorado lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 37,889 shares of the software maker’s stock after selling 1,065 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Intuit were worth $23,813,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 over the last three months. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INTU. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. BMO Capital Markets decreased their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $717.53.

Intuit Trading Up 1.5 %

Shares of NASDAQ:INTU opened at $624.12 on Monday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The stock has a market cap of $174.48 billion, a price-to-earnings ratio of 60.59, a PEG ratio of 2.85 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $593.48 and a 200-day moving average price of $616.08.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.