New York State Teachers Retirement System Sells 12,848 Shares of Intuit Inc. (NASDAQ:INTU)

New York State Teachers Retirement System lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 244,108 shares of the software maker's stock after selling 12,848 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Intuit worth $153,422,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in INTU. R Squared Ltd bought a new position in Intuit in the 4th quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at about $27,000. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit during the 4th quarter valued at approximately $29,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on INTU. StockNews.com raised Intuit from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Finally, Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They issued a "sector perform" rating and a $700.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $726.53.

Intuit Price Performance

Intuit stock traded down $7.44 during mid-day trading on Tuesday, hitting $579.94. 2,053,467 shares of the company were exchanged, compared to its average volume of 1,720,392. The company has a market capitalization of $162.34 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. The business has a fifty day moving average of $619.03 and a 200 day moving average of $629.49. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $1.14 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current 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.