Intuit (NASDAQ:INTU) Reaches New 52-Week High – Should You Buy?

Intuit Inc. (NASDAQ:INTU)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $768.09 and last traded at $764.66, with a volume of 1526670 shares traded. The stock had previously closed at $764.99.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the company a “buy” rating in a research note on Friday, May 23rd. Bank of America increased their target price on shares of Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Stifel Nicolaus increased their target price on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $785.33.

Intuit Trading Down 0.0%

The stock has a market cap of $213.30 billion, a price-to-earnings ratio of 74.24, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50 day simple moving average is $636.68 and its two-hundred day simple moving average is $623.91.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.88 EPS. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is 33.77%.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the sale, the executive vice president now directly owns 22,796 shares of the company’s stock, valued at approximately $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,804 shares of company stock valued at $138,081,963 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Several large investors have recently modified their holdings of INTU. R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at $25,000. Copia Wealth Management bought a new stake in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC bought a new stake in Intuit in the 4th quarter valued at $28,000. Finally, Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter valued at $28,000. 83.66% of the stock is owned by institutional investors.

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.