New York State Common Retirement Fund Has $214.96 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

New York State Common Retirement Fund lowered its stake in Intuit Inc. (NASDAQ:INTU) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,026 shares of the software maker’s stock after selling 14,391 shares during the period. New York State Common Retirement Fund’s holdings in Intuit were worth $214,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the third quarter worth about $27,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit during the 4th quarter worth approximately $29,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $579.94 on Wednesday. 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’s 50-day moving average price is $617.68 and its 200-day moving average price is $629.18. The firm has a market capitalization of $162.34 billion, a P/E ratio of 56.30, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year 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, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on INTU shares. Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. One 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, Intuit has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit 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.