Intuit Inc. (NASDAQ:INTU) CFO Sandeep Aujla Sells 862 Shares

Intuit Inc. (NASDAQ:INTU) CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sandeep Aujla also recently made the following trade(s):

• On Monday, August 26th, Sandeep Aujla sold 32 shares of Intuit stock. The shares were sold at an average price of $622.55, for a total value of $19,921.60.
• On Wednesday, July 3rd, Sandeep Aujla sold 1,061 shares of Intuit stock. The shares were sold at an average price of $651.27, for a total value of $690,997.47.

Intuit Stock Down 0.3 %

Shares of Intuit stock opened at $623.10 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30. The business’s 50 day simple moving average is $639.86 and its 200-day simple moving average is $632.79. The stock has a market capitalization of $174.19 billion, a price-to-earnings ratio of 57.48, a PEG ratio of 3.08 and a beta of 1.23. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Equities research analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Institutional Trading of Intuit

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JFS Wealth Advisors LLC grew its holdings in Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after buying an additional 16 shares in the last quarter. Fortitude Family Office LLC grew its holdings in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after buying an additional 16 shares in the last quarter. WASHINGTON TRUST Co grew its holdings in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares in the last quarter. Finally, Gemmer Asset Management LLC grew its holdings in Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after buying an additional 16 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, August 23rd. Finally, Royal Bank of Canada initiated coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $716.35.

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.