Intuit Inc. (NASDAQ:INTU) CEO Sells $16,624,890.18 in Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the transaction, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. This represents a 41.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intuit Stock Performance

Shares of Intuit stock traded down $5.07 during midday trading on Monday, hitting $625.16. The company had a trading volume of 1,260,667 shares, compared to its average volume of 1,144,677. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business’s 50 day simple moving average is $649.04 and its two-hundred day simple moving average is $638.38. The stock has a market cap of $174.99 billion, a PE ratio of 60.70, 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 current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s payout ratio is presently 40.39%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INTU. Harvest Portfolios Group Inc. raised its stake in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares in the last quarter. GAMMA Investing LLC raised its position in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC bought a new position in Intuit during the third quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit during the third quarter valued at approximately $56,144,000. Finally, Nordea Investment Management AB grew its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTU. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

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.