Mark P. Notarainni Sells 363 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $11,941.50. This represents a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Intuit Trading Down 1.6 %

Shares of NASDAQ INTU opened at $615.43 on Wednesday. The firm has a market capitalization of $172.27 billion, a PE ratio of 59.75, a PEG ratio of 3.24 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $649.14 and a two-hundred day moving average price of $638.33.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fairway Wealth LLC acquired a new position in Intuit in the second quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at $27,000. Denver PWM LLC bought a new stake in Intuit in the third quarter worth $32,000. Dunhill Financial LLC increased its position in Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Finally, Trifecta Capital Advisors LLC increased its position in Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after buying an additional 35 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on INTU shares. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $737.44.

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.