Intuit (NASDAQ:INTU) Trading Up 0.8%

Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.8% during mid-day trading on Wednesday . The company traded as high as $642.11 and last traded at $635.66. 293,740 shares changed hands during trading, a decline of 76% from the average session volume of 1,236,519 shares. The stock had previously closed at $630.88.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. Barclays lifted their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. KeyCorp increased their price objective on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Stifel Nicolaus increased their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Susquehanna boosted their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Down 1.4 %

The firm has a market capitalization of $175.39 billion, a price-to-earnings ratio of 63.92, a price-to-earnings-growth ratio of 3.87 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 business has a fifty day moving average price of $640.64 and a two-hundred day moving average price of $602.03.

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 net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company earned $1.05 EPS. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts expect 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. Shareholders of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Activity

In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was 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 sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuit

Large investors have recently bought and sold shares of the company. Boston Trust Walden Corp boosted its stake in Intuit by 1.5% during the 3rd quarter. Boston Trust Walden Corp now owns 3,683 shares of the software maker’s stock worth $1,882,000 after purchasing an additional 56 shares during the last quarter. Strategic Blueprint LLC acquired a new position in Intuit during the third quarter worth about $221,000. Benin Management CORP purchased a new stake in Intuit during the 3rd quarter valued at about $206,000. Birch Hill Investment Advisors LLC raised its holdings in Intuit by 5.2% in the 3rd quarter. Birch Hill Investment Advisors LLC now owns 83,766 shares of the software maker’s stock valued at $42,799,000 after acquiring an additional 4,172 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Intuit by 6.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 321,972 shares of the software maker’s stock worth $164,508,000 after purchasing an additional 19,095 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.