Intuit (NASDAQ:INTU) Shares Up 0.1%

Intuit Inc. (NASDAQ:INTU) shot up 0.1% during trading on Tuesday . The stock traded as high as $615.10 and last traded at $612.93. 202,849 shares changed hands during trading, a decline of 84% from the average session volume of 1,237,039 shares. The stock had previously closed at $612.12.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Mizuho upped their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Wells Fargo & Company upped their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Evercore ISI increased their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Piper Sandler increased their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Up 0.4 %

The stock has a market capitalization of $172.12 billion, a P/E ratio of 62.54, a P/E/G ratio of 3.78 and a beta of 1.21. The business has a 50-day moving average price of $645.96 and a 200 day moving average price of $597.57. The company has a current ratio of 1.17, a quick 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. On average, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio is presently 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 over the last quarter. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Intuit in the fourth quarter valued at about $2,101,848,000. Wellington Management Group LLP grew its stake in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Intuit by 118,345.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock worth $812,767,000 after acquiring an additional 2,086,431 shares in the last quarter. Morgan Stanley boosted its holdings in Intuit by 42.5% in the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after acquiring an additional 1,027,752 shares in the last quarter. Finally, Lone Pine Capital LLC acquired a new stake in Intuit in the fourth quarter worth about $467,852,000. Hedge funds and other institutional investors 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.