Intuit SVP Sells $1,429,380 in Stock (INTU)
Intuit (NASDAQ:INTU) SVP Daniel A. Wernikoff sold 18,000 shares of the stock on the open market in a transaction dated Friday, May 23rd. The shares were sold at an average price of $79.41, for a total transaction of $1,429,380.00. Following the completion of the transaction, the senior vice president now directly owns 216 shares in the company, valued at approximately $17,153. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Intuit (NASDAQ:INTU) traded up 0.69% during mid-day trading on Tuesday, hitting $80.14. 1,336,782 shares of the company’s stock traded hands. Intuit has a one year low of $56.74 and a one year high of $82.40. The stock’s 50-day moving average is $75. and its 200-day moving average is $75.61. The company has a market cap of $22.751 billion and a P/E ratio of 25.40.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $3.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.50 by $0.03. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $2.97 earnings per share. Intuit’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that Intuit will post $3.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Tuesday, July 8th.
INTU has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Intuit in a research note on Thursday, May 22nd. They now have a $66.00 price target on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Intuit to $80.00 in a research note on Wednesday, May 21st. They now have a “neutral” rating on the stock. Finally, analysts at Raymond James raised their price target on shares of Intuit from $84.00 to $89.00 in a research note on Wednesday, May 21st. They now have a “strong-buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $77.85.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.
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