Intuit Inc. (NASDAQ:INTU) EVP Sells $2,359,735.32 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Intuit Trading Up 0.1 %

INTU opened at $647.07 on Wednesday. The firm has a market cap of $181.13 billion, a P/E ratio of 62.82, a P/E/G ratio of 3.19 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $635.59 and a 200 day moving average of $630.43.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. As a group, research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Garden State Investment Advisory Services LLC boosted its position in shares of Intuit by 55.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the software maker’s stock valued at $762,000 after buying an additional 436 shares during the period. Denver PWM LLC purchased a new position in shares of Intuit during the third quarter valued at approximately $32,000. American Trust purchased a new position in shares of Intuit during the third quarter valued at approximately $1,126,000. Synovus Financial Corp boosted its position in shares of Intuit by 3.2% during the third quarter. Synovus Financial Corp now owns 7,495 shares of the software maker’s stock valued at $4,654,000 after buying an additional 231 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of Intuit by 47.5% during the third quarter. Tidal Investments LLC now owns 14,355 shares of the software maker’s stock valued at $8,914,000 after acquiring an additional 4,620 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on INTU. BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, Morgan Stanley raised their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.