Intuit (NASDAQ:INTU) Stock Price Down 1.6%

Intuit Inc. (NASDAQ:INTU) shares fell 1.6% on Wednesday . The stock traded as low as $610.04 and last traded at $615.77. 330,563 shares traded hands during trading, a decline of 73% from the average session volume of 1,234,743 shares. The stock had previously closed at $625.62.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTU. 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. Mizuho lifted their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. KeyCorp raised their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Barclays raised their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus boosted their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Price Performance

The company has a fifty day moving average of $639.51 and a 200 day moving average of $604.93. The firm has a market capitalization of $172.28 billion, a P/E ratio of 62.83, a PEG ratio of 3.89 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its 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. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

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

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the 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 transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s 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 transaction, the executive vice president now directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 4,717 shares of company stock worth $3,117,156 over the last ninety days. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of institutional investors have recently modified their holdings of INTU. NewSquare Capital LLC purchased a new stake in Intuit in the 3rd quarter valued at $25,000. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit in the 4th quarter valued at $25,000. Cape Investment Advisory Inc. purchased a new stake in Intuit in the 3rd quarter valued at $26,000. West Branch Capital LLC raised its position in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares during the last quarter. Finally, MCF Advisors LLC raised its position in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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.