Intuit (NASDAQ:INTU) Shares Up 0.4%

Intuit Inc. (NASDAQ:INTU)’s stock price shot up 0.4% on Wednesday . The company traded as high as $617.80 and last traded at $613.81. 347,400 shares changed 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.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INTU. Stifel Nicolaus raised their target price on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays raised their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note 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 note on Friday, February 23rd. Evercore ISI raised their price target on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, KeyCorp raised their price target on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Stock Performance

The company has a market cap of $170.35 billion, a price-to-earnings ratio of 62.08, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. 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 stock has a 50-day moving average price of $643.99 and a 200 day moving average price of $598.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, analysts anticipate 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 was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last 90 days. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently bought and sold shares of INTU. Vanguard Group Inc. raised its stake in shares of Intuit by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 25,774,405 shares of the software maker’s stock worth $16,109,776,000 after purchasing an additional 443,087 shares in the last quarter. State Street Corp raised its stake in shares of Intuit by 1.9% during the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock worth $4,948,558,000 after purchasing an additional 210,246 shares in the last quarter. FMR LLC raised its stake in shares of Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Morgan Stanley raised its stake in shares of Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after purchasing an additional 137,198 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. 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.