Intuit (NASDAQ:INTU) Stock Price Up 0.8%

Intuit Inc. (NASDAQ:INTU)’s stock price rose 0.8% during trading on Wednesday . The company traded as high as $642.11 and last traded at $635.66. Approximately 293,740 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,236,519 shares. The stock had previously closed at $630.88.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research analyst reports. Oppenheimer lifted their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Mizuho lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday. Evercore ISI lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Piper Sandler lifted their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Performance

The firm has a market cap of $178.03 billion, a PE ratio of 64.88, a PEG ratio of 3.71 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm’s 50 day simple moving average is $641.83 and its 200 day simple moving average is $601.63.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. On average, research analysts forecast that Intuit Inc. will post 11.27 EPS 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 issued a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction 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 in the last three months. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Hedge funds have recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. boosted its position in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the period. JFS Wealth Advisors LLC boosted its position in Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after buying an additional 16 shares during the period. EverSource Wealth Advisors LLC boosted its position in Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares during the period. GAM Holding AG boosted its position in Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after buying an additional 17 shares during the period. Finally, Janiczek Wealth Management LLC boosted its position in Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after buying an additional 17 shares during the period. 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.