Mark P. Notarainni Sells 965 Shares of Intuit Inc. (NASDAQ:INTU) Stock

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

Intuit Trading Up 0.6 %

NASDAQ:INTU opened at $659.90 on Friday. The business’s 50-day simple moving average is $620.43 and its 200-day simple moving average is $629.18. Intuit Inc. has a fifty-two week low of $444.19 and a fifty-two week high of $676.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $184.47 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23.

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

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders 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 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio is 33.21%.

Analyst Ratings Changes

A number of brokerages have commented on INTU. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Citigroup raised their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Bank of America dropped their price objective on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a report on Friday, May 24th. Stifel Nicolaus reduced their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, Piper Sandler boosted their price target 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. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Institutional Trading of Intuit

A number of institutional investors have recently modified their holdings of INTU. Parnassus Investments LLC boosted its position in Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings 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 purchasing an additional 226 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after acquiring an additional 1,990 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC acquired a new position in Intuit during the fourth quarter worth $1,292,000. 83.66% of the stock is currently owned by institutional investors.

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.