Intuit (NASDAQ:INTU) Trading 0.2% Higher

Intuit Inc. (NASDAQ:INTU)’s share price traded up 0.2% during trading on Monday . The company traded as high as $630.00 and last traded at $622.40. 155,355 shares changed hands during trading, a decline of 87% from the average session volume of 1,238,608 shares. The stock had previously closed at $621.11.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on INTU shares. Piper Sandler boosted their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo & Company boosted their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. 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. BMO Capital Markets restated an “outperform” rating and set a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Finally, Evercore ISI boosted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Price Performance

The stock has a fifty day moving average of $645.48 and a two-hundred day moving average of $598.28. The stock has a market cap of $171.22 billion, a price-to-earnings ratio of 62.40, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. 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 posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, equities research analysts anticipate 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 will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Insider Activity at Intuit

In related news, 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 sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated 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 $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated 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 a total of 4,717 shares of company stock valued at $3,117,156 over the last quarter. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of large investors have recently modified their holdings of INTU. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at about $25,000. MCF Advisors LLC grew its stake in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. NewSquare Capital LLC acquired a new stake in shares of Intuit in the third quarter valued at about $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit in the third quarter valued at about $26,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $33,000. 83.66% of the stock is currently owned by hedge funds and other 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.