Intuit (NASDAQ:INTU) Trading Up 0.1%

Shares of Intuit Inc. (NASDAQ:INTU) were up 0.1% during mid-day trading on Tuesday . The company traded as high as $615.10 and last traded at $612.93. Approximately 202,849 shares traded hands during trading, a decline of 84% from the average daily volume of 1,237,039 shares. The stock had previously closed at $612.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on INTU shares. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Evercore ISI increased their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Susquehanna raised their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Stifel Nicolaus raised their target price on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company raised their target price on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Performance

The firm has a 50 day simple moving average of $644.88 and a 200-day simple moving average of $598.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $171.70 billion, a price-to-earnings ratio of 62.57, a PEG ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.39 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. As a group, analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

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

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Kerry J. Mclean sold 3,692 shares of the business’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 sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business’s 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 sold 4,717 shares of company stock valued at $3,117,156 in the last ninety days. Insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Intuit in the 3rd quarter valued at about $51,000. V Square Quantitative Management LLC increased its position in Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 482 shares during the period. Compagnie Lombard Odier SCmA increased its position in Intuit by 27.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after acquiring an additional 1,900 shares during the period. Glenmede Trust Co. NA increased its position in Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares during the period. Finally, Hixon Zuercher LLC acquired a new position in Intuit in the 4th quarter valued at about $1,292,000. 83.66% of the stock is owned by hedge funds and other 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.