Wednesday, November 26, 2014

Intuit CEO Brad Smith Sells $10,720,022 in Stock (INTU)

Stehpan Byrd for Tickerreport writes: Intuit (NASDAQ:INTU) CEO Brad D. Smith sold 116,005 shares of Intuit stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $92.41, for a total transaction of $10,720,022.05. Following the completion of the sale, the chief executive officer now directly owns 123,377 shares in the company, valued at approximately $11,401,269. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Intuit (NASDAQ:INTU) traded down 0.01% on Tuesday, hitting $92.66. 1,330,902 shares of thecompany’s stock traded hands. Intuit has a 52-week low of $69.02 and a 52-week high of $95.42. The stock has a 50-day moving average of $86. and a 200-day moving average of $82.90. The company has a market cap of $26.454 billion and a P/E ratio of 32.20.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 20th. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.20) by $0.10. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $620.80 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts predict that Intuit will post $2.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, January 20th. Investors of record on Friday, January 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, January 7th.

A number of analysts have recently weighed in on INTU shares. Analysts at Morningstar reiterated a “standard” rating on shares of Intuit in a research note on Monday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday. They now have a $85.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Intuit from $90.00 to $92.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Intuit currently has an average rating of “Hold” and an average target price of $91.57.

Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.


Post a Comment