Sasan K. Goodarzi Sells 75,000 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Intuit Stock Up 1.2 %

Shares of NASDAQ INTU opened at $630.23 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock’s fifty day simple moving average is $648.62 and its two-hundred day simple moving average is $637.79. The stock has a market capitalization of $176.41 billion, a PE ratio of 61.19, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. Intuit’s payout ratio is 40.39%.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Hedge Funds Weigh In On Intuit

Several institutional investors and hedge funds have recently bought and sold shares of INTU. GAMMA Investing LLC boosted its position in shares of Intuit by 5.5% in the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the software maker’s stock worth $2,544,000 after purchasing an additional 210 shares in the last quarter. Versant Capital Management Inc raised its stake in Intuit by 22.9% in the fourth quarter. Versant Capital Management Inc now owns 295 shares of the software maker’s stock valued at $185,000 after buying an additional 55 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Intuit by 33.2% in the third quarter. Lord Abbett & CO. LLC now owns 1,408 shares of the software maker’s stock worth $874,000 after acquiring an additional 351 shares in the last quarter. Garden State Investment Advisory Services LLC increased its holdings in shares of Intuit by 55.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the software maker’s stock valued at $762,000 after acquiring an additional 436 shares in the last quarter. Finally, Denver PWM LLC purchased a new position in shares of Intuit in the 3rd quarter valued at approximately $32,000. 83.66% of the stock is owned by hedge funds and other 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.