Intuit Inc. (INTU) Insider Sells $25,879,286.28 in Stock
Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $141.16, for a total transaction of $25,879,286.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Intuit Inc. (NASDAQ INTU) traded down 0.10% during trading on Thursday, hitting $141.00. 1,525,680 shares of the company’s stock were exchanged. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81. The stock’s 50 day moving average is $137.36 and its 200 day moving average is $130.40. The firm has a market capitalization of $36.24 billion, a PE ratio of 37.90 and a beta of 1.15.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The firm had revenue of $842 million for the quarter, compared to analyst estimates of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. On average, equities research analysts forecast that Intuit Inc. will post $4.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.11%. The ex-dividend date is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio is currently 36.56%.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Intuit by 1,542.9% during the 1st quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after purchasing an additional 16,306,976 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Intuit by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock worth $2,233,621,000 after purchasing an additional 444,676 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Intuit by 7.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock worth $634,903,000 after purchasing an additional 347,159 shares during the last quarter. Morgan Stanley increased its stake in shares of Intuit by 38.5% during the 1st quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after purchasing an additional 966,936 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of Intuit by 5.4% during the 1st quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after purchasing an additional 138,184 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.
INTU has been the subject of a number of recent research reports. Citigroup Inc. raised their price objective on shares of Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Bank of America Corporation lifted their target price on shares of Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Deutsche Bank AG lifted their target price on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, May 29th. Finally, Jefferies Group LLC started coverage on shares of Intuit in a research note on Thursday, August 24th. They issued a “buy” rating and a $157.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Intuit has a consensus rating of “Buy” and an average target price of $138.28.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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