Lauren D. Hotz, Senior Vice President and Chief Accounting Officer at Intuit Inc. (NASDAQ:INTU), recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The transactions, which took place on January 10, involved the sale of a total of 1,078 shares, generating approximately $667,838. The shares were sold at prices ranging from $619.24 to $620.74 per share. The software giant, currently valued at $171.66 billion, maintains impressive gross profit margins of nearly 80% and has earned a "GOOD" financial health rating according to InvestingPro analysis. Following these sales, Hotz retains ownership of 1,864 shares in the company. While 25 analysts have recently revised their earnings expectations downward, InvestingPro data reveals 15+ additional key insights about Intuit's valuation and financial performance, available through their comprehensive Pro Research Report.
In other recent news, Intuit has been making headlines with its first-quarter financial results and strategic transformations. The financial software company reported robust first-quarter revenues of $3.28 billion, surpassing expectations by approximately $144 million. The company's earnings per share (EPS) came in at $2.50, $0.14 higher than anticipated, largely due to a 20% increase in its Global Business Services (GBS) Online Ecosystem and a 29% rise in Credit Karma, a part of Intuit's portfolio.
In addition to financial results, Mizuho (NYSE:MFG) maintained an Outperform rating on Intuit and increased the price target to $750, following the company's strong first fiscal quarter results. The firm attributed Intuit's slightly below market second-quarter guidance to a strategic shift in revenue from the second to the third quarter, rather than an actual revenue loss.
On the other hand, Piper Sandler has slightly adjusted the price target for Intuit to $765 from the previous $768, while maintaining an Overweight rating on the stock. The firm's analysis indicates potential external risks but reaffirms confidence in Intuit's strong start to the fiscal year 2025.
In terms of company news, CEO Sasan Gadarzi and CFO Sandeep Ojala have highlighted the transformative impact of AI and the company's progress in serving mid-market and small business customers. However, a decline in desktop revenue was also noted during this period. These are the recent developments that investors should be aware of regarding Intuit.
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