Intuit (NASDAQ:INTU) Shares Up 0.4%

Shares of Intuit Inc. (NASDAQ:INTU) shot up 0.4% during mid-day trading on Wednesday . The stock traded as high as $617.80 and last traded at $613.81. 347,400 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,239,079 shares. The stock had previously closed at $611.49.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INTU. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Evercore ISI boosted their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Oppenheimer boosted their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Price Performance

The stock’s 50-day moving average price is $645.48 and its 200-day moving average price is $598.28. The company has a market capitalization of $172.00 billion, a price-to-earnings ratio of 62.63, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the business earned $1.05 earnings per share. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s payout ratio is 36.73%.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kathmere Capital Management LLC boosted its position in shares of Intuit by 16.0% during the first quarter. Kathmere Capital Management LLC now owns 398 shares of the software maker’s stock worth $259,000 after purchasing an additional 55 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Intuit by 0.6% during the first quarter. Harbour Capital Advisors LLC now owns 8,776 shares of the software maker’s stock worth $5,499,000 after purchasing an additional 55 shares in the last quarter. Transform Wealth LLC boosted its position in shares of Intuit by 7.5% during the first quarter. Transform Wealth LLC now owns 812 shares of the software maker’s stock worth $528,000 after purchasing an additional 57 shares in the last quarter. Scharf Investments LLC boosted its position in shares of Intuit by 6.0% during the first quarter. Scharf Investments LLC now owns 4,915 shares of the software maker’s stock worth $3,195,000 after purchasing an additional 280 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Intuit by 13.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,268 shares of the software maker’s stock worth $17,724,000 after purchasing an additional 3,266 shares in the last quarter. 83.66% of the stock is owned by 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.