Intuit (NASDAQ:INTU) Trading Down 0.4%

Intuit Inc. (NASDAQ:INTU) shares traded down 0.4% during mid-day trading on Tuesday . The company traded as low as $633.80 and last traded at $635.74. 149,660 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,231,772 shares. The stock had previously closed at $638.39.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Oppenheimer boosted their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Susquehanna upped their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler increased their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Mizuho raised their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Down 1.2 %

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 stock has a market capitalization of $176.58 billion, a PE ratio of 64.87, a PEG ratio of 3.88 and a beta of 1.21. The company has a 50 day moving average price of $639.91 and a 200-day moving average price of $604.28.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 11.27 earnings per share 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 paid a dividend of $0.90 per share. 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 Activity

In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit 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 sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit 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 sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Intuit in the fourth quarter worth approximately $2,101,848,000. Wellington Management Group LLP lifted its position in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC bought a new position in Intuit in the 4th quarter valued at approximately $467,852,000. Parnassus Investments LLC boosted its stake in Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares in the last quarter. 83.66% of the stock is currently owned by 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.