Insider Selling: Intuit Inc. (NASDAQ:INTU) CFO Sells 1,618 Shares of Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) CFO Sandeep Aujla sold 1,618 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $1,252,170.20. Following the completion of the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at approximately $594,355.20. This trade represents a 67.81% 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 the SEC website.

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

• On Tuesday, May 27th, Sandeep Aujla sold 16,061 shares of Intuit stock. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93.

Intuit Price Performance

Shares of INTU stock traded up $8.56 during mid-day trading on Thursday, hitting $782.26. 822,973 shares of the stock were exchanged, compared to its average volume of 1,616,714. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $790.60. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market cap of $218.21 billion, a PE ratio of 63.49, a price-to-earnings-growth ratio of 3.47 and a beta of 1.27. The firm has a fifty day moving average of $712.39 and a 200 day moving average of $640.96.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 EPS. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.53%. Intuit's dividend payout ratio is currently 33.77%.

Hedge Funds Weigh In On Intuit

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Intuit in the fourth quarter worth approximately $2,290,419,000. GAMMA Investing LLC grew its holdings in shares of Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares during the period. Nuveen LLC acquired a new stake in shares of Intuit during the 1st quarter worth about $882,031,000. Nicholas Hoffman & Company LLC. purchased a new stake in Intuit in the 1st quarter valued at about $785,564,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after buying an additional 771,232 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Bank of America boosted their price target on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. CLSA initiated coverage on Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price objective on the stock. Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. Finally, The Goldman Sachs Group raised their price target on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $793.05.

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.

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