Friday, September 26, 2014

Intuit CFO Sells $7,328,121 in Stock (INTU)

ABMN Staff for American Banking & Market News writes: Intuit (NASDAQ:INTU) CFO R Neil Williams unloaded 84,679 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $86.54, for a total value of $7,328,120.66. Following the completion of the transaction, the chief financial officer now directly owns 11,508 shares in the company, valued at approximately $995,902. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on INTU shares. Analysts at RBC Capital initiated coverage on shares of Intuit in a research note on Monday, September 15th. They set an “outperform” rating and a $105.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Intuit from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 27th. They now have a $80.60 price target on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of Intuit in a research note on Friday, August 22nd. They now have a $100.00 price target on the stock, up previously from $89.00. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $82.85.
Intuit (NASDAQ:INTU) traded down 2.12% during mid-day trading on Thursday, hitting $84.85. 2,106,666 shares of the company’s stock traded hands. Intuit has a 52 week low of $65.12 and a 52 week high of $87.31. The stock has a 50-day moving average of $83.75 and a 200-day moving average of $79.89. The company has a market cap of $24.228 billion and a price-to-earnings ratio of 27.80.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.07 by $0.06. The company had revenue of $714.00 million for the quarter, compared to the consensus estimate of $699.49 million. The company’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts expect that Intuit will post $2.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 20th. Stockholders of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, October 8th. This is a boost from Intuit’s previous quarterly dividend of $0.19.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions forsmall businesses, consumers, accounting professionals and financial institutions.