Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni Sells 363 Shares

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Intuit Stock Down 1.6 %

Shares of NASDAQ:INTU opened at $615.43 on Wednesday. The firm has a market cap of $172.27 billion, a P/E ratio of 59.75, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The business has a fifty day simple moving average of $649.14 and a 200 day simple moving average of $638.33. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. Analysts predict that Intuit Inc. will post 14.07 earnings per share for the current 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. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio is 40.39%.

Institutional Trading of Intuit

Several hedge funds have recently bought and sold shares of INTU. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the last quarter. Harvest Portfolios Group Inc. boosted its holdings in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares in the last quarter. Retireful LLC purchased a new stake in shares of Intuit in the third quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit during the third quarter valued at about $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INTU. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of 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 shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

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.