Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 81 Shares of Intuit Inc. (NASDAQ:INTU)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Intuit Inc. (NASDAQ:INTU) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,454 shares of the software maker’s stock after acquiring an additional 81 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Intuit were worth $39,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. bought a new stake in Intuit in the 4th quarter worth approximately $25,000. West Branch Capital LLC increased its stake in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after acquiring an additional 19 shares during the last quarter. MCF Advisors LLC increased its stake in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Intuit in the 4th quarter worth approximately $38,000. Finally, Sachetta LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock valued at $114,442,445 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INTU shares. Stifel Nicolaus cut their target price on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Morgan Stanley boosted their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Jefferies Financial Group reissued a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Piper Sandler reissued an “overweight” rating and set a $760.00 target price on shares of Intuit in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $687.22.

Intuit Stock Up 1.2 %

Shares of INTU traded up $7.97 during midday trading on Tuesday, reaching $666.15. 988,318 shares of the stock were exchanged, compared to its average volume of 1,335,485. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $624.55 and its two-hundred day moving average is $631.05. The company has a market capitalization of $186.22 billion, a P/E ratio of 61.45, a PEG ratio of 3.67 and a beta of 1.23.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the company earned $7.80 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

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.