Intuit (NASDAQ:INTU) Shares Down 2.9%

Intuit Inc. (NASDAQ:INTU) shares traded down 2.9% during trading on Wednesday . The stock traded as low as $614.15 and last traded at $614.94. 177,974 shares traded hands during trading, a decline of 87% from the average session volume of 1,320,295 shares. The stock had previously closed at $633.62.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. UBS Group boosted their price target on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Wells Fargo & Company upped their price target on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Finally, Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Up 1.3 %

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $637.49 and a 200 day moving average of $631.89. The stock has a market capitalization of $179.85 billion, a price-to-earnings ratio of 56.73, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. Intuit’s payout ratio is 33.21%.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Insiders sold 13,999 shares of company stock worth $8,872,069 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the business. LGT Financial Advisors LLC purchased a new stake in Intuit during the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the second quarter worth $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the second quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in Intuit in the second quarter valued at about $35,000. Finally, Trifecta Capital Advisors LLC increased its position in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares during the last quarter. 83.66% of the stock is currently owned by 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.