Insider Selling: Intuit Inc. (NASDAQ:INTU) CFO Sells 1,300 Shares of Stock

Intuit Inc. (NASDAQ:INTU) CFO Sandeep Aujla sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the sale, the chief financial officer now owns 644 shares in the company, valued at approximately $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sandeep Aujla also recently made the following trade(s):

• On Friday, January 3rd, Sandeep Aujla sold 109 shares of Intuit stock. The shares were sold at an average price of $628.50, for a total value of $68,506.50.

Intuit Stock Down 0.3 %

Shares of INTU stock traded down $1.58 during trading on Friday, hitting $623.43. 2,045,974 shares of the company were exchanged, compared to its average volume of 1,186,187. The business’s 50-day simple moving average is $649.55 and its 200 day simple moving average is $638.16. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The firm has a market capitalization of $174.51 billion, a price-to-earnings ratio of 60.53, a P/E/G 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 (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business posted $1.14 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The company 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 $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 payout ratio is currently 40.39%.

Analyst Ratings Changes

Several research firms have commented on INTU. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Morgan Stanley boosted their price target on shares of Intuit from $685.00 to $730.00 and gave the stock 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently made changes to their positions in INTU. International Assets Investment Management LLC increased its holdings in Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares during the last quarter. Holocene Advisors LP grew its position in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.