Insider Selling: Johnson Suzanne M. Nora Unloads 75,000 Shares of Intuit Stock (INTU)
Intuit (NASDAQ:INTU) Director Johnson Suzanne M. Nora unloaded 75,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $78.91, for a total value of $5,918,250.00. Following the completion of the sale, the director now directly owns 15,737 shares of the company’s stock, valued at approximately $1,241,807. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on INTU shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Intuit in a research note on Wednesday, May 28th. They now have a $84.00 price target on the stock, up previously from $77.00. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.23.
Intuit (NASDAQ:INTU) traded up 0.10% during mid-day trading on Friday, hitting $78.99. The stock had a trading volume of 1,006,449 shares. Intuit has a one year low of $56.74 and a one year high of $82.40. The stock has a 50-day moving average of $77.02 and a 200-day moving average of $76.13. The company has a market cap of $22.424 billion and a price-to-earnings ratio of 25.19. Intuit also saw a significant decrease in short interest in the month of May. As of May 30th, there was short interest totalling 7,148,697 shares, a decrease of 22.2% from the May 15th total of 9,193,581 shares. Based on an average daily trading volume, of 2,077,041 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.6% of the company’s stock are short sold.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 20th. The company reported $3.53 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $2.97 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts expect that Intuit will post $3.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, July 8th.
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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