Intuit (NASDAQ:INTU) Trading 1.5% Higher

Intuit Inc. (NASDAQ:INTU)’s share price rose 1.5% during mid-day trading on Friday . The company traded as high as $638.71 and last traded at $635.85. Approximately 205,095 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,237,145 shares. The stock had previously closed at $626.39.

Analyst Ratings Changes

Several research firms recently commented on INTU. KeyCorp boosted their price objective on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Stifel Nicolaus increased their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Oppenheimer boosted their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Evercore ISI upped their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Up 1.6 %

The company has a market capitalization of $178.23 billion, a PE ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21. The firm’s 50-day simple moving average is $640.26 and its 200 day simple moving average is $603.18. 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 posted its quarterly earnings data 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 net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

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 $0.90 dividend. 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 36.73%.

Insider Buying and Selling at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Desjardins Global Asset Management Inc. increased its holdings 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 acquiring an additional 16 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Intuit by 1.0% during the 4th 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 stake in Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares in the last quarter. GAM Holding AG raised its holdings in 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 buying an additional 17 shares during the period. Finally, Janiczek Wealth Management LLC lifted its stake in Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after buying an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

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.