Mark P. Notarainni Sells 3,649 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTUGet Free Report) EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Intuit Price Performance

Shares of INTU traded up $0.11 during midday trading on Monday, reaching $646.58. The stock had a trading volume of 1,378,936 shares, compared to its average volume of 1,362,605. The company has a market capitalization of $180.99 billion, a price-to-earnings ratio of 62.77, a price-to-earnings-growth ratio of 3.19 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company’s 50-day moving average is $635.59 and its 200 day moving average is $630.43.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 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 firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.64%. Intuit’s payout ratio is 40.39%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. LGT Financial Advisors LLC purchased a new position in Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit in the second quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the 3rd quarter valued at $27,000. Finally, Denver PWM LLC bought a new stake in Intuit in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $737.44.

Check Out Our Latest Research Report 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.

See Also

Insider Buying and Selling by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.