New York State Common Retirement Fund Sells 14,391 Shares of Intuit Inc. (NASDAQ:INTU)

New York State Common Retirement Fund cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,026 shares of the software maker's stock after selling 14,391 shares during the period. New York State Common Retirement Fund owned about 0.12% of Intuit worth $214,963,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INTU. R Squared Ltd bought a new position in Intuit during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the 3rd quarter valued at $27,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They issued a "sector perform" rating and a $700.00 price objective for the company. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday. They set a "neutral" rating for the company. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley boosted their price target 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average target price of $726.53.

Insider Buying and Selling

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the sale, the chief executive officer now directly owns 37,869 shares of the company's stock, valued at $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $13.61 during midday trading on Friday, reaching $565.47. The company had a trading volume of 2,006,382 shares, compared to its average volume of 1,767,831. The company's 50 day moving average price is $614.05 and its 200 day moving average price is $628.50. 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 stock has a market cap of $158.29 billion, a P/E ratio of 54.90, a P/E/G ratio of 2.87 and a beta of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. The company 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 firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.