Insider Selling: Intuit Inc. (INTU) Chairman Sells 207,110 Shares of Stock
Intuit Inc. (NASDAQ:INTU) Chairman Scott D. Cook sold 207,110 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $175.86, for a total value of $36,422,364.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Intuit Inc. (INTU) opened at $177.68 on Wednesday. The firm has a market capitalization of $45,416.18, a price-to-earnings ratio of 47.29, a PEG ratio of 2.70 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.63. Intuit Inc. has a twelve month low of $114.80 and a twelve month high of $179.17.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. sell-side analysts predict that Intuit Inc. will post 4.28 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Horan Capital Advisors LLC. bought a new position in Intuit in the 3rd quarter worth $114,000. Captrust Financial Advisors bought a new position in Intuit in the 4th quarter worth $158,000. SeaCrest Wealth Management LLC bought a new position in Intuit in the 4th quarter worth $170,000. Lake Street Advisors Group LLC bought a new position in Intuit in the 4th quarter worth $200,000. Finally, Trellis Advisors LLC bought a new position in Intuit in the 4th quarter worth $201,000. 87.15% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on INTU shares. Zacks Investment Research raised Intuit from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $185.00 price objective (up from $170.00) on shares of Intuit in a research report on Tuesday, January 9th. Barclays upped their price objective on Intuit from $135.00 to $157.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 15th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $182.00 price objective on shares of Intuit in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Intuit to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $167.05.
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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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