Intuit Inc. (INTU) Position Raised by Arizona State Retirement System

Arizona State Retirement System boosted its position in Intuit Inc. (NASDAQ:INTU) by 4.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 81,848 shares of the software maker’s stock after buying an additional 3,769 shares during the period. Arizona State Retirement System’s holdings in Intuit were worth $18,612,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Greenleaf Trust boosted its holdings in Intuit by 17.6% in the third quarter. Greenleaf Trust now owns 4,235 shares of the software maker’s stock worth $963,000 after acquiring an additional 635 shares in the last quarter. Alley Co LLC boosted its holdings in Intuit by 3.9% in the third quarter. Alley Co LLC now owns 23,241 shares of the software maker’s stock worth $5,285,000 after acquiring an additional 866 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in Intuit by 0.4% in the third quarter. NN Investment Partners Holdings N.V. now owns 128,387 shares of the software maker’s stock worth $29,196,000 after acquiring an additional 493 shares in the last quarter. EULAV Asset Management boosted its holdings in Intuit by 7.8% in the third quarter. EULAV Asset Management now owns 47,200 shares of the software maker’s stock worth $10,733,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Intuit by 13.7% in the third quarter. Oppenheimer & Co. Inc. now owns 8,463 shares of the software maker’s stock worth $1,924,000 after acquiring an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

A number of research analysts have recently weighed in on INTU shares. Argus raised their target price on Intuit from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Evercore ISI upgraded Intuit from an “in-line” rating to an “outperform” rating in a report on Wednesday, October 3rd. Credit Suisse Group raised their target price on Intuit from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Oppenheimer raised their target price on Intuit from $224.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, September 28th. Finally, Barclays raised their target price on Intuit from $204.00 to $219.00 and gave the company an “equal weight” rating in a report on Friday, September 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $224.29.

In related news, insider Scott D. Cook sold 100,000 shares of Intuit stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $221.58, for a total transaction of $22,158,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brad D. Smith sold 254,325 shares of Intuit stock in a transaction on Friday, September 14th. The stock was sold at an average price of $227.66, for a total value of $57,899,629.50. Following the sale, the chief executive officer now owns 415,445 shares in the company, valued at $94,580,208.70. The disclosure for this sale can be found here. Insiders have sold 622,236 shares of company stock worth $137,883,071 over the last quarter. 5.59% of the stock is currently owned by corporate insiders.

INTU stock opened at $200.67 on Tuesday. The company has a market capitalization of $52.26 billion, a PE ratio of 44.30, a P/E/G ratio of 2.31 and a beta of 1.20. Intuit Inc. has a twelve month low of $150.38 and a twelve month high of $231.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.14.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. The business had revenue of $988.00 million for the quarter, compared to analyst estimates of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. Intuit’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 5.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 10th were issued a dividend of $0.47 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.39. This represents a $1.88 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, October 9th. Intuit’s dividend payout ratio (DPR) is 41.50%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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