Intuit Inc. (INTU) Chairman Scott D. Cook Sells 182,037 Shares
Intuit Inc. (NASDAQ:INTU) Chairman Scott D. Cook sold 182,037 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $135.20, for a total value of $24,611,402.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Intuit Inc. (NASDAQ INTU) traded up 1.49% during mid-day trading on Friday, reaching $137.35. The company had a trading volume of 1,530,029 shares. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $143.81. The company’s 50-day moving average is $135.60 and its 200 day moving average is $129.04. The stock has a market capitalization of $35.30 billion, a P/E ratio of 36.92 and a beta of 1.15.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. The company had revenue of $842 million for the quarter, compared to analyst estimates of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. Analysts anticipate that Intuit Inc. will post $4.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be given a $0.39 dividend. The ex-dividend date is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.14%. Intuit’s dividend payout ratio is presently 36.56%.
Several brokerages have weighed in on INTU. Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and cut their price target for the company from $148.00 to $141.00 in a report on Monday, June 26th. Credit Suisse Group boosted their price target on Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Stifel Nicolaus boosted their price target on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. Royal Bank Of Canada boosted their price target on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. Finally, CIBC boosted their price target on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Intuit currently has an average rating of “Hold” and a consensus target price of $137.76.
Several institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC raised its position in shares of Intuit by 39.0% in the first quarter. Flinton Capital Management LLC now owns 9,576 shares of the software maker’s stock valued at $1,111,000 after buying an additional 2,688 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Intuit by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 718,580 shares of the software maker’s stock valued at $83,348,000 after buying an additional 7,343 shares during the last quarter. Whittier Trust Co. raised its position in shares of Intuit by 5.2% in the first quarter. Whittier Trust Co. now owns 2,903 shares of the software maker’s stock valued at $337,000 after buying an additional 143 shares during the last quarter. Shell Asset Management Co. raised its position in shares of Intuit by 3.8% in the first quarter. Shell Asset Management Co. now owns 46,600 shares of the software maker’s stock valued at $5,405,000 after buying an additional 1,710 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd raised its position in shares of Intuit by 2,125.0% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock valued at $5,162,000 after buying an additional 42,500 shares during the last quarter. 85.18% of the stock is currently owned by institutional investors.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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