Intuit (NASDAQ:INTU) Shares Down 0.5% Following Insider Selling

Shares of Intuit Inc. (NASDAQ:INTU) were down 0.5% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $638.34 and last traded at $640.64. Approximately 153,658 shares traded hands during trading, a decline of 88% from the average daily volume of 1,320,195 shares. The stock had previously closed at $643.92.

Specifically, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp increased their price target on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, Barclays dropped their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Trading Up 1.4 %

The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $183.68 billion, a P/E ratio of 60.45, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a fifty day simple moving average of $636.63 and a two-hundred day simple moving average of $632.02.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. On average, sell-side analysts expect that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is currently 33.21%.

Institutional Investors Weigh In On Intuit

A number of hedge funds and other institutional investors have recently bought and sold shares of INTU. EverSource Wealth Advisors LLC increased its holdings in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares during the period. Fortitude Family Office LLC increased its stake in shares of Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co raised its position in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after acquiring an additional 16 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after acquiring an additional 16 shares during the period. Finally, Hohimer Wealth Management LLC boosted its holdings in Intuit by 0.9% in the fourth quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker’s stock valued at $1,135,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds 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.