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

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 26,562 shares of the company’s 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 owns 37,869 shares in the company, valued at $23,701,828.41. This represents a 41.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Intuit Price Performance

Shares of Intuit stock opened at $626.05 on Thursday. 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 Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock’s 50-day simple moving average is $649.24 and its 200-day simple moving average is $638.24. The company has a market capitalization of $175.24 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 3.24 and a beta of 1.25.

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

Intuit Announces Dividend

The business also recently declared 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. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTU. Piper Sandler cut their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley upped their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, State Street Corp increased its position in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

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.