Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton Sells 2,988 Shares

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Intuit Stock Up 3.3 %

NASDAQ:INTU opened at $654.24 on Friday. The company has a market cap of $182.89 billion, a price-to-earnings ratio of 60.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The stock has a fifty day simple moving average of $636.76 and a 200-day simple moving average of $631.46.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is 38.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Royal Bank of Canada assumed coverage on Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC purchased a new position in shares of Intuit during the fourth quarter worth $467,852,000. Parnassus Investments LLC increased its position in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares during the period. Capital World Investors lifted its position in shares of Intuit by 54.7% during the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock worth $735,480,000 after purchasing an additional 416,099 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after purchasing an additional 285,328 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.