Intuit Inc. (INTU) EVP Sells $2,291,831.87 in Stock
Intuit Inc. (NASDAQ:INTU) EVP Sasan K. Goodarzi sold 16,207 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $141.41, for a total value of $2,291,831.87. Following the sale, the executive vice president now owns 5,785 shares in the company, valued at $818,056.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Intuit Inc. (NASDAQ:INTU) traded down 0.22% during midday trading on Wednesday, reaching $142.06. The company’s stock had a trading volume of 1,231,688 shares. The stock’s 50 day moving average price is $137.93 and its 200-day moving average price is $130.90. The stock has a market cap of $36.22 billion, a price-to-earnings ratio of 38.19 and a beta of 1.15. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same period in the prior year, the company earned $0.08 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post $4.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.10%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is presently 36.56%.
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Large investors have recently bought and sold shares of the business. Captrust Financial Advisors purchased a new stake in Intuit in the second quarter valued at $108,000. Shine Investment Advisory Services Inc. purchased a new stake in Intuit in the second quarter valued at $123,000. Guardian Life Insurance Co. of America boosted its holdings in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after purchasing an additional 5 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Intuit in the second quarter valued at $140,000. Finally, ETF Managers Group LLC purchased a new stake in Intuit in the second quarter valued at $140,000. 86.05% of the stock is currently owned by institutional investors.
INTU has been the topic of a number of research reports. Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $148.00 to $141.00 in a research note on Monday, June 26th. Credit Suisse Group raised their price target on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Stifel Nicolaus raised their price target on Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Royal Bank Of Canada raised their price target on Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 24th. Finally, CIBC raised their price target on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, May 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average 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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