Kerry J. Mclean Sells 16,700 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the sale, the executive vice president now owns 23,101 shares of the company's stock, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Intuit Price Performance

Shares of INTU traded down $0.33 during midday trading on Tuesday, hitting $764.66. 1,526,670 shares of the company traded hands, compared to its average volume of 1,620,227. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $771.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average of $633.69 and a 200-day moving average of $622.92. The stock has a market cap of $213.30 billion, a price-to-earnings ratio of 74.24, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 18.25% and a net margin of 17.59%. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $9.88 earnings per share. On average, analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Institutional Investors Weigh In On Intuit

A number of institutional investors and hedge funds have recently modified their holdings of INTU. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after buying an additional 3,648 shares in the last quarter. Capitolis Liquid Global Markets LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $109,988,000. Hantz Financial Services Inc. lifted its holdings in shares of Intuit by 10.2% during the 4th quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker's stock valued at $13,906,000 after purchasing an additional 2,055 shares during the last quarter. Factory Mutual Insurance Co. acquired a new stake in shares of Intuit in the 4th quarter worth $33,248,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Intuit during the 4th quarter valued at approximately $237,244,000. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. Jefferies Financial Group set a $850.00 price target on Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Citigroup reiterated a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Wells Fargo & Company reiterated an "overweight" rating and set a $825.00 target price (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $785.33.

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.