Insider Selling: Intuit Inc. (NASDAQ:INTU) CFO Sells $814,346.00 in Stock

Intuit Inc. (NASDAQ:INTU) CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the sale, the chief financial officer now owns 644 shares in the company, valued at approximately $403,414.48. This represents a 66.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, January 3rd, Sandeep Aujla sold 109 shares of Intuit stock. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50.

Intuit Stock Performance

NASDAQ INTU opened at $623.43 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market cap of $174.51 billion, a PE ratio of 60.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The stock’s 50 day simple moving average is $649.58 and its 200-day simple moving average is $638.21.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal 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 issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is 40.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC acquired a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the 3rd quarter valued at $27,000. Denver PWM LLC acquired a new stake in shares of Intuit in the 3rd quarter worth $32,000. Dunhill Financial LLC raised its holdings in shares of Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after acquiring an additional 32 shares during the period. Finally, HHM Wealth Advisors LLC boosted its position in shares of Intuit by 275.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 60 shares of the software maker’s stock valued at $39,000 after acquiring an additional 44 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Finally, Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. 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 company currently has a consensus 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.