Traders Buy Shares of Intuit (INTU) on Weakness on Insider Selling

Investors bought shares of Intuit Inc. (NASDAQ:INTU) on weakness during trading on Friday after an insider sold shares in the company. $77.04 million flowed into the stock on the tick-up and $36.67 million flowed out of the stock on the tick-down, for a money net flow of $40.37 million into the stock. Of all companies tracked, Intuit had the 9th highest net in-flow for the day. Intuit traded down ($0.33) for the day and closed at $155.23Specifically, insider Scott D. Cook sold 183,333 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $155.03, for a total transaction of $28,422,114.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO R Neil Williams sold 184,585 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $141.11, for a total value of $26,046,789.35. Following the transaction, the chief financial officer now owns 64,620 shares of the company’s stock, valued at approximately $9,118,528.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,082,140 shares of company stock valued at $161,190,993. 5.59% of the stock is owned by corporate insiders.

A number of brokerages recently commented on INTU. First Analysis upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a report on Wednesday, August 23rd. William Blair began coverage on Intuit in a report on Tuesday, September 19th. They set an “outperform” rating for the company. UBS downgraded Intuit to an “underperform” rating in a report on Wednesday, September 27th. Wells Fargo & Company upgraded Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price for the company in a report on Thursday, September 21st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $141.00 price objective on shares of Intuit in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $152.89.

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $39,768.90, a price-to-earnings ratio of 41.59, a PEG ratio of 2.80 and a beta of 1.18.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The business had revenue of $886.00 million during the quarter, compared to the consensus estimate of $855.74 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. analysts predict that Intuit Inc. will post 3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.56 annualized dividend and a dividend yield of 1.00%. Intuit’s payout ratio is presently 41.38%.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Intuit by 2.7% during the second quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock valued at $2,233,621,000 after acquiring an additional 444,676 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Intuit by 7.8% during the second quarter. TIAA CREF Investment Management LLC now owns 4,780,533 shares of the software maker’s stock valued at $634,903,000 after acquiring an additional 347,159 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Intuit by 612.6% during the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock valued at $345,589,000 after acquiring an additional 2,236,974 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Intuit by 19.0% during the second quarter. Royal Bank of Canada now owns 2,508,267 shares of the software maker’s stock valued at $333,124,000 after acquiring an additional 400,406 shares in the last quarter. Finally, Lindsell Train Ltd increased its holdings in shares of Intuit by 7.3% during the third quarter. Lindsell Train Ltd now owns 2,369,800 shares of the software maker’s stock valued at $336,843,000 after acquiring an additional 162,000 shares in the last quarter. Hedge funds and other institutional investors own 86.28% of the company’s stock.

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About Intuit

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

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