Sasan K. Goodarzi Sells 26,562 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Intuit Stock Down 0.8 %

Shares of INTU stock traded down $5.07 during trading on Monday, reaching $625.16. The company’s stock had a trading volume of 1,260,667 shares, compared to its average volume of 1,144,677. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The business has a fifty day moving average price of $649.04 and a 200-day moving average price of $638.38. The company has a market cap of $174.99 billion, a price-to-earnings ratio of 60.70, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business posted $1.14 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is 40.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harvest Portfolios Group Inc. boosted its position in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after buying an additional 968 shares during the period. Retireful LLC acquired a new position in Intuit in the 3rd quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Intuit in the 3rd quarter valued at about $56,144,000. Finally, Nordea Investment Management AB lifted its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted 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. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Piper Sandler reduced their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit currently 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.