Intuit Inc. (NASDAQ:INTU) CFO Sandeep Aujla Sells 1,061 Shares

Intuit Inc. (NASDAQ:INTU) CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, May 28th, Sandeep Aujla sold 1,415 shares of Intuit stock. The shares were sold at an average price of $604.58, for a total value of $855,480.70.

Intuit Price Performance

NASDAQ:INTU opened at $659.90 on Thursday. The stock has a 50 day moving average of $619.94 and a two-hundred day moving average of $628.97. Intuit Inc. has a 12 month low of $444.19 and a 12 month high of $676.62. The firm has a market cap of $184.47 billion, a P/E ratio of 60.88, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

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

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Intuit during the 4th quarter worth approximately $2,101,848,000. Wellington Management Group LLP boosted its stake in Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in Intuit in the 4th quarter valued at $467,852,000. Parnassus Investments LLC grew its holdings in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after buying an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after acquiring an additional 472,172 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INTU. UBS Group upped their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Piper Sandler increased their price objective on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Jefferies Financial Group restated a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Stifel Nicolaus cut their price target on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $687.22.

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.