Kentucky Retirement Systems Sells 265 Shares of Intuit Inc. (NASDAQ:INTU)

Kentucky Retirement Systems lessened its position in Intuit Inc. (NASDAQ:INTU) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,210 shares of the software maker’s stock after selling 265 shares during the period. Kentucky Retirement Systems’ holdings in Intuit were worth $12,073,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in shares of Intuit during the 4th quarter worth about $621,000. Harvest Portfolios Group Inc. boosted its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC bought a new stake in shares of Intuit during the 3rd quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Intuit during the 3rd quarter worth about $56,144,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $579.08 on Friday. The stock has a market capitalization of $162.10 billion, a PE ratio of 56.22, a PEG ratio of 2.87 and a beta of 1.24. 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 firm has a 50 day moving average of $614.05 and a 200-day moving average of $628.50. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on INTU. Barclays reduced their target price 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. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Oppenheimer lifted their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note 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 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.