Intuit (NASDAQ:INTU) Shares Up 3.2%

Intuit Inc. (NASDAQ:INTU)’s share price shot up 3.2% during mid-day trading on Tuesday . The stock traded as high as $630.87 and last traded at $629.24. 263,617 shares were traded during trading, a decline of 79% from the average session volume of 1,232,925 shares. The stock had previously closed at $609.77.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. 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. Wells Fargo & Company boosted their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Intuit Stock Up 0.7 %

The stock’s 50-day moving average price is $641.40 and its two-hundred day moving average price is $601.86. The stock has a market capitalization of $177.94 billion, a PE ratio of 64.85, a P/E/G ratio of 3.84 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share 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 firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm earned $1.05 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal 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 given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated 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. In the last ninety days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

Institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of Intuit in the 3rd quarter worth approximately $51,000. V Square Quantitative Management LLC increased its holdings 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 worth $1,558,000 after acquiring an additional 482 shares in the last quarter. Compagnie Lombard Odier SCmA increased its holdings in Intuit by 27.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock worth $4,496,000 after acquiring an additional 1,900 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC purchased a new stake in Intuit in the 4th quarter worth approximately $1,292,000. 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.