Intuit (NASDAQ:INTU) Shares Up 0.8%

Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.8% during trading on Wednesday . The company traded as high as $642.11 and last traded at $635.66. 293,740 shares changed hands during trading, a decline of 76% from the average session volume of 1,236,519 shares. The stock had previously closed at $630.88.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INTU shares. 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 report on Friday, February 23rd. Susquehanna lifted their price objective on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Barclays increased their target price on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Stifel Nicolaus upped their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Mizuho lifted their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average is $640.64 and its two-hundred day moving average is $602.03. The company has a market capitalization of $175.39 billion, a P/E ratio of 63.92, a price-to-earnings-growth ratio of 3.87 and a beta of 1.21.

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

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s payout ratio is 36.73%.

Insider Buying and Selling at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Institutional investors and hedge funds have recently bought and sold shares of the company. Desjardins Global Asset Management Inc. raised its position in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after buying an additional 16 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after purchasing an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares during the last quarter. GAM Holding AG raised its stake in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

About Intuit

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.