Intuit Inc. (NASDAQ:INTU) EVP Sells $887,663.30 in Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the sale, the executive vice president owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intuit Trading Up 1.1%

Intuit stock traded up $8.56 during midday trading on Friday, hitting $782.26. 822,973 shares of the stock were exchanged, compared to its average volume of 1,619,453. 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 stock has a market capitalization of $218.21 billion, a PE ratio of 63.49, a P/E/G ratio of 3.47 and a beta of 1.27. The company has a fifty day simple moving average of $718.90 and a two-hundred day simple moving average of $642.44.

Intuit (NASDAQ:INTU - Get Free Report) last announced 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. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $9.88 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Institutional Investors Weigh In On Intuit

Several large investors have recently made changes to their positions in the stock. Copia Wealth Management bought a new position in Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC boosted its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC bought a new position in shares of Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $28,000. Finally, Vista Cima Wealth Management LLC bought a new stake in Intuit in the 1st quarter valued at approximately $31,000. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the topic of several research reports. CLSA initiated coverage on shares of Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target on the stock. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price target for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Bank of America upped their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

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.