Intuit (NASDAQ:INTU) Trading Down 2.3%

Intuit Inc. (NASDAQ:INTU)’s stock price traded down 2.3% during trading on Thursday . The stock traded as low as $620.72 and last traded at $620.76. 207,273 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,237,188 shares. The stock had previously closed at $635.49.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Susquehanna boosted their price objective on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Oppenheimer boosted their price objective on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. KeyCorp boosted their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $650.23.

Intuit Trading Up 1.6 %

The firm has a market capitalization of $178.23 billion, a P/E ratio of 64.95, a price-to-earnings-growth ratio of 3.81 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. The firm has a 50 day moving average price of $640.26 and a two-hundred day moving average price of $602.74.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations 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. On average, equities research analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given 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 dividend payout ratio (DPR) is presently 36.73%.

Insider Transactions at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on 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 owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Lauren D. Hotz sold 745 shares of the 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 in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on 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 sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. 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 over the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Several hedge funds and other institutional investors have recently modified their holdings of INTU. OFI Invest Asset Management bought a new position in Intuit during the third quarter valued at about $51,000. V Square Quantitative Management LLC raised its holdings in Intuit by 18.8% during the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after buying an additional 482 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Intuit by 27.5% during the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after buying an additional 1,900 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC bought a new position in Intuit during the fourth quarter valued at about $1,292,000. 83.66% of the stock is currently 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.