Intuit Inc. (NASDAQ:INTU) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in Intuit Inc. (NASDAQ:INTU) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,268 shares of the software maker’s stock after buying an additional 226 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Intuit were worth $13,293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. DiNuzzo Private Wealth Inc. acquired a new position in Intuit during the fourth quarter worth $25,000. MCF Advisors LLC lifted its position in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. NewSquare Capital LLC purchased a new position in shares of Intuit in the third quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in Intuit during the 3rd quarter worth approximately $26,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Intuit in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 over the last three months. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer raised their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Finally, Mizuho lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Stock Performance

NASDAQ INTU traded up $5.85 during trading hours on Tuesday, hitting $640.49. The company had a trading volume of 455,731 shares, compared to its average volume of 1,228,129. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a market cap of $179.34 billion, a P/E ratio of 65.13, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $636.97 and a 200-day simple moving average of $607.50.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

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.