Teacher Retirement System of Texas Acquires 33,415 Shares of Intuit Inc. (NASDAQ:INTU)

Teacher Retirement System of Texas raised its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 35.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,498 shares of the software maker's stock after purchasing an additional 33,415 shares during the period. Teacher Retirement System of Texas' holdings in Intuit were worth $80,132,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in Intuit by 2.7% in the third quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker's stock valued at $9,149,000 after acquiring an additional 388 shares during the period. Quest Partners LLC lifted its holdings in shares of Intuit by 203.7% during the 3rd quarter. Quest Partners LLC now owns 1,652 shares of the software maker's stock valued at $1,026,000 after purchasing an additional 1,108 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of Intuit by 1.8% in the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker's stock valued at $626,000 after purchasing an additional 18 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in Intuit by 1.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,909 shares of the software maker's stock worth $1,807,000 after purchasing an additional 51 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Intuit by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 127,892 shares of the software maker's stock worth $79,421,000 after buying an additional 2,498 shares during the period. 83.66% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. BNP Paribas downgraded shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Citigroup lowered their target price on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. BMO Capital Markets decreased their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, StockNews.com lowered Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $721.61.

Intuit Stock Performance

NASDAQ:INTU traded up $9.05 during mid-day trading on Monday, hitting $613.09. The stock had a trading volume of 1,702,978 shares, compared to its average volume of 1,439,822. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $171.40 billion, a price-to-earnings ratio of 59.52, a PEG ratio of 2.85 and a beta of 1.27. The company's 50 day simple moving average is $596.08 and its 200 day simple moving average is $622.80.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 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 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's payout ratio is presently 38.81%.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 363 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $11,941.50. This represents a 95.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,348 shares of company stock worth $73,515,245. Company insiders own 2.68% of the company's stock.

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.