Intuit Inc. (NASDAQ:INTU) EVP Sells $5,063,828.00 in Stock

by · The Cerbat Gem

Intuit Inc. (NASDAQ:INTU – Get Free Report) EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the sale, the executive vice president now owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Intuit Price Performance

Shares of INTU stock traded up $23.49 during mid-day trading on Wednesday, hitting $670.56. 1,868,420 shares of the stock were exchanged, compared to its average volume of 1,365,645. The firm has a fifty day moving average of $636.41 and a 200 day moving average of $630.71. 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 Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market cap of $187.70 billion, a PE ratio of 64.38, a price-to-earnings-growth ratio of 3.19 and a beta of 1.25.

Intuit (NASDAQ:INTU – Get Free Report) last posted its earnings results 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the company posted $1.14 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is currently 40.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INTU. International Assets Investment Management LLC lifted its stake in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares in the last quarter. Holocene Advisors LP lifted its stake in Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Intuit in the 2nd quarter worth approximately $184,982,000. Ameriprise Financial Inc. lifted its stake in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, State Street Corp lifted its stake in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on INTU. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. BMO Capital Markets increased their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Piper Sandler cut their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

View Our Latest Stock Analysis on INTU

About Intuit

(Get Free Report)

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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