Intuit Inc. (NASDAQ:INTU) CFO Sells $2,469,120.00 in Stock

Intuit Inc. (NASDAQ:INTU) CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sandeep Aujla also recently made the following trade(s):

• On Thursday, October 3rd, Sandeep Aujla sold 775 shares of Intuit stock. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25.
• On Wednesday, September 4th, Sandeep Aujla sold 862 shares of Intuit stock. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86.
• On Monday, August 26th, Sandeep Aujla sold 32 shares of Intuit stock. The shares were sold at an average price of $622.55, for a total transaction of $19,921.60.

Intuit Stock Performance

Shares of Intuit stock opened at $616.68 on Monday. The firm’s fifty day simple moving average is $630.68 and its 200-day simple moving average is $628.44. The stock has a market capitalization of $172.39 billion, a price-to-earnings ratio of 56.89, a PEG ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada began coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Citigroup upped their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group increased their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. bought a new position in Intuit during the second quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit in the second quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter valued at $35,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Intuit during the second quarter valued at about $39,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

About Intuit

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.