Scott D. Cook Sells 72,442 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 72,442 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% 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 hyperlink.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $752.04 on Friday. 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 twelve month low of $532.65 and a twelve month high of $761.02. The stock’s 50 day moving average is $630.69 and its 200-day moving average is $623.50. The firm has a market capitalization of $210.24 billion, a price-to-earnings ratio of 73.01, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the firm earned $9.88 earnings per share. Intuit’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 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 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s payout ratio is 33.77%.

Wall Street Analysts Forecast Growth

INTU has been the topic of several analyst reports. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus upped their target price on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 23rd. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $825.00 price target (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $785.33.

Hedge Funds Weigh In On Intuit

Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after buying an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in Intuit in the 4th quarter valued at $109,988,000. Hantz Financial Services Inc. raised its position in Intuit by 10.2% in the 4th quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker’s stock valued at $13,906,000 after buying an additional 2,055 shares during the last quarter. Factory Mutual Insurance Co. purchased a new stake in Intuit in the 4th quarter valued at $33,248,000. Finally, V Square Quantitative Management LLC raised its position in Intuit by 7.0% in the 4th quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock valued at $4,821,000 after buying an additional 501 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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.