New York State Common Retirement Fund Trims Stock Position in Intuit Inc. $INTU

New York State Common Retirement Fund cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 318,231 shares of the software maker’s stock after selling 18,600 shares during the period. New York State Common Retirement Fund owned about 0.11% of Intuit worth $217,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Norges Bank purchased a new stake in shares of Intuit in the second quarter worth about $3,268,830,000. Nicholas Hoffman & Company LLC. purchased a new position in Intuit during the first quarter valued at approximately $785,564,000. Winslow Capital Management LLC acquired a new position in Intuit in the second quarter valued at approximately $782,677,000. Swedbank AB boosted its position in Intuit by 575.4% in the 3rd quarter. Swedbank AB now owns 881,555 shares of the software maker’s stock worth $602,023,000 after purchasing an additional 751,027 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Intuit by 520.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 558,499 shares of the software maker’s stock worth $381,405,000 after purchasing an additional 468,547 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 1.2%

INTU opened at $538.70 on Thursday. The company has a market cap of $149.90 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. Intuit Inc. has a twelve month low of $520.69 and a twelve month high of $813.70. The company has a 50-day moving average price of $631.22 and a 200 day moving average price of $671.47. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.28.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 20th. The software maker reported $3.34 EPS for the quarter, topping the consensus estimate of $3.09 by $0.25. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.76 billion. Intuit had a return on equity of 23.52% and a net margin of 21.19%.Intuit’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.50 EPS. Intuit has set its Q2 2026 guidance at 3.630-3.680 EPS. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 9th were issued a $1.20 dividend. The ex-dividend date was Friday, January 9th. This represents a $4.80 dividend on an annualized basis and a yield of 0.9%. Intuit’s dividend payout ratio (DPR) is presently 32.81%.

Wall Street Analysts Forecast Growth

INTU has been the subject of several analyst reports. Truist Financial began coverage on shares of Intuit in a research note on Tuesday, January 6th. They issued a “buy” rating and a $739.00 target price for the company. UBS Group set a $739.00 price objective on shares of Intuit in a research report on Tuesday, January 6th. KeyCorp lowered their target price on shares of Intuit from $825.00 to $750.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Royal Bank Of Canada restated an “outperform” rating on shares of Intuit in a research note on Wednesday. Finally, Daiwa Capital Markets upped their price target on Intuit from $770.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $791.73.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 1,335 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $629.46, for a total transaction of $840,329.10. Following the transaction, the chief financial officer directly owned 536 shares in the company, valued at approximately $337,390.56. The trade was a 71.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $659.95, for a total transaction of $219,763.35. Following the completion of the sale, the director owned 13,476 shares of the company’s stock, valued at approximately $8,893,486.20. The trade was a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 388,464 shares of company stock worth $255,514,393. Company insiders own 2.49% of the company’s stock.

About Intuit

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.