Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells 363 Shares of Stock

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 363 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $11,941.50. This represents a 95.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Intuit Stock Down 0.8 %

Shares of INTU opened at $625.16 on Tuesday. The firm has a market cap of $174.99 billion, a P/E ratio of 60.70, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The firm’s 50-day simple moving average is $649.30 and its 200 day simple moving average is $638.45.

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

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Institutional Trading of Intuit

A number of institutional investors have recently bought and sold shares of INTU. Fairway Wealth LLC bought a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $27,000. Denver PWM LLC acquired a new stake in shares of Intuit during the 3rd quarter worth $32,000. Dunhill Financial LLC raised its stake in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares in the last quarter. Finally, Trifecta Capital Advisors LLC lifted its position in Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares during the period. Institutional investors own 83.66% of the company’s stock.

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.