Intuit (NASDAQ:INTU) Stock Price Up 3.2%

Shares of Intuit Inc. (NASDAQ:INTU) rose 3.2% during trading on Tuesday . The company traded as high as $630.87 and last traded at $629.24. Approximately 263,617 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,232,925 shares. The stock had previously closed at $609.77.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. Susquehanna boosted their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Stifel Nicolaus upped their target price on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays boosted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $645.00.

Intuit Trading Up 3.6 %

The firm has a market capitalization of $176.90 billion, a price-to-earnings ratio of 64.21, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21. The firm’s 50 day moving average is $641.98 and its 200 day moving average is $600.94. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. Equities analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid 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 Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 can be accessed through this link. In other news, 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 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. RFG Advisory LLC grew its stake in Intuit by 10.3% in the 3rd quarter. RFG Advisory LLC now owns 1,845 shares of the software maker’s stock valued at $943,000 after buying an additional 173 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in Intuit by 7.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 767 shares of the software maker’s stock valued at $392,000 after buying an additional 50 shares during the last quarter. 1900 Wealth Management LLC acquired a new position in Intuit in the 3rd quarter valued at $719,000. Founders Financial Securities LLC boosted its holdings in Intuit by 9.6% in the 3rd quarter. Founders Financial Securities LLC now owns 640 shares of the software maker’s stock valued at $327,000 after purchasing an additional 56 shares during the period. Finally, Roberts Wealth Advisors LLC boosted its holdings in Intuit by 0.8% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 5,625 shares of the software maker’s stock valued at $3,043,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds 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.