Intuit Inc. (NASDAQ:INTU) EVP Sells $628,215.00 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Intuit Stock Performance

INTU opened at $668.75 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $621.74 and its two-hundred day moving average price is $629.75. The firm has a market capitalization of $186.95 billion, a P/E ratio of 61.69, a price-to-earnings-growth ratio of 3.77 and a beta of 1.23. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $7.80 earnings per share. On average, equities analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is presently 33.21%.

Hedge Funds Weigh In On Intuit

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTU. Parnassus Investments LLC increased its position in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the period. Maryland State Retirement & Pension System boosted its stake in Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after buying an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after buying an additional 1,990 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC bought a new position in shares of Intuit during the 4th quarter worth about $1,292,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Citigroup upped their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Company lifted their price objective on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus reduced their price target on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $687.22.

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.