Intuit Inc. (NASDAQ:INTU) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in Intuit Inc. (NASDAQ:INTU) by 35.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,498 shares of the software maker’s stock after buying an additional 33,415 shares during the period. Teacher Retirement System of Texas’ holdings in Intuit were worth $80,132,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in INTU. Brown Financial Advisors boosted its position in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC lifted its stake in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the last quarter. True North Advisors LLC boosted its holdings in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares during the period. Great Diamond Partners LLC grew its position in shares of Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares during the last quarter. Finally, Prospera Financial Services Inc increased its holdings 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 acquiring an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $603.11 on Thursday. The firm has a 50 day moving average of $596.98 and a 200-day moving average of $623.15. The company has a market cap of $168.61 billion, a price-to-earnings ratio of 58.55, a PEG ratio of 2.85 and a beta of 1.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

Insiders Place Their Bets

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,646 shares of company stock worth $72,494,045. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INTU. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $721.61.

About Intuit

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.