Eve B. Burton Sells 2,988 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Intuit Stock Performance

Shares of Intuit stock opened at $644.99 on Friday. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a market capitalization of $180.31 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The stock’s fifty day moving average is $636.82 and its two-hundred day moving average is $631.30. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. As a group, analysts expect that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. Intuit’s payout ratio is presently 38.38%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Intuit by 84.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 93,025 shares of the software maker’s stock valued at $61,137,000 after buying an additional 42,685 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Intuit during the 2nd quarter valued at about $786,000. Sanctuary Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $12,334,000. Brown Financial Advisors bought a new stake in shares of Intuit in the 2nd quarter valued at about $1,067,000. Finally, Sycomore Asset Management lifted its position in shares of Intuit by 23.7% in the 2nd quarter. Sycomore Asset Management now owns 31,553 shares of the software maker’s stock worth $20,114,000 after purchasing an additional 6,039 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INTU shares. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets increased their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

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.