Sasan K. Goodarzi Sells 26,562 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares in the company, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Intuit Trading Down 1.6 %

Shares of NASDAQ INTU opened at $615.43 on Wednesday. The business has a fifty day moving average price of $649.14 and a 200 day moving average price of $638.33. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $172.27 billion, a P/E ratio of 59.75, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio is presently 40.39%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INTU. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its position in shares of Intuit by 79.3% in the 2nd quarter. Larson Financial Group LLC now owns 217 shares of the software maker’s stock valued at $143,000 after purchasing an additional 96 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Intuit by 17.9% in the second quarter. Private Advisor Group LLC now owns 8,487 shares of the software maker’s stock worth $5,578,000 after buying an additional 1,287 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Intuit by 4.6% during the second quarter. Savant Capital LLC now owns 2,880 shares of the software maker’s stock worth $1,893,000 after buying an additional 126 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of Intuit by 9.2% during the second quarter. Cullen Frost Bankers Inc. now owns 18,182 shares of the software maker’s stock valued at $11,949,000 after buying an additional 1,533 shares during the last quarter. Finally, Chris Bulman Inc acquired a new position in shares of Intuit in the 2nd quarter valued at $988,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

About Intuit

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.