Intuit (NASDAQ:INTU) Shares Down 0.2%

Intuit Inc. (NASDAQ:INTU) dropped 0.2% during trading on Thursday . The company traded as low as $607.28 and last traded at $613.69. Approximately 224,594 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,233,164 shares. The stock had previously closed at $615.20.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research analyst reports. Oppenheimer lifted their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Barclays raised their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Mizuho upped their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company increased their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Intuit Price Performance

The stock has a 50-day moving average price of $638.17 and a two-hundred day moving average price of $605.07. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $176.20 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 3.74 and a beta of 1.22.

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

Intuit Announces Dividend

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

Insider Activity

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

Hedge Funds Weigh In On Intuit

A number of institutional investors have recently modified their holdings of INTU. Desjardins Global Asset Management Inc. lifted its holdings in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares during the period. JFS Wealth Advisors LLC grew its position in Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after buying an additional 16 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares in the last quarter. GAM Holding AG boosted its stake in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after acquiring an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in shares of Intuit by 2.4% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.