Intuit Inc. (NASDAQ:INTU) Insider Scott D. Cook Sells 72,442 Shares of Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Intuit Trading Up 0.4%

Shares of Intuit stock opened at $757.22 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $759.50. The stock has a market cap of $211.69 billion, a P/E ratio of 73.52, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $628.02 and its 200-day moving average is $623.14.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.88 EPS. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is presently 33.77%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INTU. Norges Bank acquired a new position in shares of Intuit during the 4th quarter worth approximately $2,290,419,000. GAMMA Investing LLC increased its holdings in shares of Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the last quarter. Nuveen LLC acquired a new position in shares of Intuit during the 1st quarter worth approximately $882,031,000. Nicholas Hoffman & Company LLC. acquired a new position in Intuit in the 1st quarter valued at $785,564,000. Finally, Proficio Capital Partners LLC grew its holdings in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research analyst reports. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. KeyCorp restated an “overweight” rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. The Goldman Sachs Group boosted their target price on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Evercore ISI boosted their target price on Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $785.33.

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.