Intuit Inc. (INTU) Stake Lowered by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,227 shares of the software maker’s stock after selling 4,290 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Intuit were worth $4,827,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in INTU. Cedar Capital LLC grew its position in Intuit by 37.7% in the 3rd quarter. Cedar Capital LLC now owns 11,434 shares of the software maker’s stock valued at $2,600,000 after purchasing an additional 3,133 shares during the period. Piedmont Investment Advisors Inc. grew its position in Intuit by 34.3% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 20,260 shares of the software maker’s stock valued at $4,607,000 after purchasing an additional 5,173 shares during the period. Hartford Investment Management Co. lifted its stake in Intuit by 3.0% during the 3rd quarter. Hartford Investment Management Co. now owns 39,837 shares of the software maker’s stock valued at $9,059,000 after acquiring an additional 1,159 shares in the last quarter. Norinchukin Bank The lifted its stake in Intuit by 20.5% during the 3rd quarter. Norinchukin Bank The now owns 33,271 shares of the software maker’s stock valued at $7,566,000 after acquiring an additional 5,653 shares in the last quarter. Finally, Chartwell Investment Partners LLC lifted its stake in Intuit by 9.9% during the 3rd quarter. Chartwell Investment Partners LLC now owns 16,989 shares of the software maker’s stock valued at $3,863,000 after acquiring an additional 1,527 shares in the last quarter. 89.07% of the stock is owned by institutional investors.
INTU has been the topic of several recent analyst reports. Argus raised their price objective on Intuit from $225.00 to $250.00 in a research note on Tuesday, July 24th. Stifel Nicolaus raised their price objective on Intuit from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $243.00 price objective on the stock in a research note on Tuesday, August 28th. Guggenheim initiated coverage on Intuit in a research note on Tuesday, August 7th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, BidaskClub cut Intuit from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Intuit currently has an average rating of “Buy” and an average target price of $224.29.
NASDAQ INTU opened at $211.44 on Monday. The firm has a market cap of $54.69 billion, a PE ratio of 46.57, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19. Intuit Inc. has a one year low of $150.43 and a one year high of $231.84. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. The company had revenue of $988.00 million for the quarter, compared to analysts’ expectations of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 5.24 EPS for the current fiscal year.
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Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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