Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,598 shares of the software maker's stock after selling 1,257 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Intuit were worth $37,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. State Street Corp lifted its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the period. Geode Capital Management LLC increased 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 acquiring an additional 80,463 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Intuit by 2.9% during the third 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 period. Bank of New York Mellon Corp raised its position in shares of Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock worth $1,499,744,000 after purchasing an additional 88,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intuit by 4.0% in the third 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 buying an additional 87,517 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction dated 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 owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,348 shares of company stock valued at $73,515,245. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

NASDAQ:INTU traded up $9.05 during mid-day trading on Monday, hitting $613.09. 1,702,978 shares of the stock traded hands, compared to its average volume of 1,439,823. The business's 50-day moving average price is $596.08 and its 200 day moving average price is $622.74. 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 company has a market cap of $171.40 billion, a PE ratio of 59.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit's dividend payout ratio (DPR) is currently 38.81%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INTU shares. Piper Sandler reissued an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Scotiabank reduced their price objective on Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets lowered their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Finally, StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $721.61.

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.