State of New Jersey Common Pension Fund D Decreases Stake in Intuit Inc. (NASDAQ:INTU)

State of New Jersey Common Pension Fund D decreased its position in Intuit Inc. (NASDAQ:INTU) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,500 shares of the software maker’s stock after selling 8,400 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Intuit were worth $15,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Intuit by 8.5% in the first quarter. Creative Planning now owns 14,261 shares of the software maker’s stock worth $1,654,000 after buying an additional 1,123 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Intuit by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 75,405 shares of the software maker’s stock worth $8,746,000 after buying an additional 1,600 shares during the period. Addenda Capital Inc. raised its stake in shares of Intuit by 5.5% in the first quarter. Addenda Capital Inc. now owns 41,329 shares of the software maker’s stock worth $4,793,000 after buying an additional 2,169 shares during the period. National Pension Service raised its position in shares of Intuit by 2.6% in the first quarter. National Pension Service now owns 200,470 shares of the software maker’s stock worth $23,178,000 after buying an additional 5,096 shares during the period. Finally, Cutler Group LP raised its position in shares of Intuit by 104.4% in the first quarter. Cutler Group LP now owns 3,286 shares of the software maker’s stock worth $381,000 after buying an additional 1,678 shares during the period. Hedge funds and other institutional investors own 85.18% of the company’s stock.

Intuit Inc. (NASDAQ:INTU) traded down 0.26% on Friday, reaching $134.11. 1,306,185 shares of the company’s stock were exchanged. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $143.81. The firm has a 50-day moving average of $135.05 and a 200-day moving average of $128.38. The firm has a market capitalization of $34.36 billion, a price-to-earnings ratio of 38.54 and a beta of 1.15.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned $3.43 EPS. The company’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post $4.39 earnings per share for the current year.

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INTU has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. Citigroup Inc. lowered shares of Intuit from a “buy” rating to a “neutral” rating and decreased their price target for the company from $148.00 to $141.00 in a report on Monday, June 26th. Deutsche Bank AG lifted their price target on shares of Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 25th. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Royal Bank Of Canada raised their target price on shares of Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Intuit presently has a consensus rating of “Buy” and an average price target of $135.63.

In other news, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,265 shares of company stock worth $21,085,104. Insiders own 5.70% of the company’s stock.

Intuit Company Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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