Sasan K. Goodarzi Sells 75,000 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Intuit Stock Down 0.9 %

Shares of NASDAQ INTU traded down $5.71 on Thursday, reaching $622.79. 1,005,704 shares of the company’s stock traded hands, compared to its average volume of 1,378,204. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $648.62 and its two-hundred day simple moving average is $637.79. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a market cap of $174.33 billion, a price-to-earnings ratio of 60.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s payout ratio is 40.39%.

Hedge Funds Weigh In On Intuit

Several hedge funds and other institutional investors have recently modified their holdings of INTU. Jackson Creek Investment Advisors LLC purchased a new position in Intuit during the second quarter valued at approximately $392,000. Oregon Public Employees Retirement Fund grew its position in Intuit by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 24,043 shares of the software maker’s stock valued at $15,801,000 after acquiring an additional 95 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in shares of Intuit by 19.9% in the second quarter. Founders Financial Securities LLC now owns 862 shares of the software maker’s stock valued at $567,000 after purchasing an additional 143 shares during the period. First National Trust Co lifted its stake in Intuit by 3.7% in the second quarter. First National Trust Co now owns 999 shares of the software maker’s stock worth $657,000 after acquiring an additional 36 shares during the period. Finally, Fortis Capital Advisors LLC lifted its holdings in Intuit by 9.4% during the second quarter. Fortis Capital Advisors LLC now owns 781 shares of the software maker’s stock worth $513,000 after buying an additional 67 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on INTU shares. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Company Profile

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.