Intuit (NASDAQ:INTU) Shares Down 4.5% – Here’s What Happened

Intuit Inc. (NASDAQ:INTU) dropped 4.5% during mid-day trading on Tuesday . The company traded as low as $291.02 and last traded at $290.45. 1,347,143 shares traded hands during trading, a decline of 69% from the average session volume of 4,300,901 shares. The stock had previously closed at $304.12.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. Barclays cut their price target on Intuit from $443.00 to $408.00 and set an “overweight” rating for the company in a report on Wednesday, August 26th. Truist Financial reiterated a “hold” rating and issued a $300.00 target price on shares of Intuit in a research note on Friday. JPMorgan Chase & Co. downgraded Intuit from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $605.00 to $331.00 in a research report on Wednesday, August 26th. Citigroup lowered their price target on Intuit from $591.00 to $457.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Bank of America downgraded shares of Intuit from a “buy” rating to a “neutral” rating and set a $360.00 price objective for the company. in a research note on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $431.55.

Intuit Stock Down 4.7%

The stock has a fifty day moving average price of $325.80 and a 200-day moving average price of $348.58. The firm has a market cap of $77.45 billion, a PE ratio of 17.57, a PEG ratio of 0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.51 and a current ratio of 1.51.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, beating the consensus estimate of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the firm posted $2.75 earnings per share. Intuit’s revenue for the quarter was up 13.7% compared to the same quarter last year. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Research analysts expect that Intuit Inc. will post 23.01 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 8th will be issued a $1.38 dividend. The ex-dividend date is Thursday, October 8th. This represents a $5.52 annualized dividend and a yield of 1.9%. This is an increase from Intuit’s previous quarterly dividend of $1.20. Intuit’s payout ratio is currently 33.45%.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 285 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the sale, the director owned 11,531 shares of the company’s stock, valued at $3,751,726.16. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total transaction of $314,311.78. Following the completion of the transaction, the chief accounting officer owned 1,628 shares of the company’s stock, valued at $564,167.12. This trade represents a 35.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.49% of the company’s stock.

Institutional Trading of Intuit

Hedge funds and other institutional investors have recently modified their holdings of the business. Sandy Cove Advisors LLC lifted its position in shares of Intuit by 6.8% during the fourth quarter. Sandy Cove Advisors LLC now owns 376 shares of the software maker’s stock worth $249,000 after purchasing an additional 24 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in shares of Intuit by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 2,349 shares of the software maker’s stock worth $1,556,000 after purchasing an additional 24 shares during the period. Verus Capital Partners LLC lifted its position in shares of Intuit by 5.2% in the 4th quarter. Verus Capital Partners LLC now owns 506 shares of the software maker’s stock worth $335,000 after buying an additional 25 shares during the last quarter. Legacy Wealth Managment LLC ID boosted its holdings in shares of Intuit by 10.3% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 267 shares of the software maker’s stock valued at $115,000 after buying an additional 25 shares during the period. Finally, Prentice Wealth Management LLC grew its position in shares of Intuit by 3.1% during the 1st quarter. Prentice Wealth Management LLC now owns 876 shares of the software maker’s stock valued at $379,000 after buying an additional 26 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Company Profile

Intuit Inc is a financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, tax obligations and customer relationships. The company is headquartered in Mountain View, California, and serves customers primarily in the United States and Canada, with additional international availability for certain products.

Its principal offerings include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, invoicing, payroll and payments tools for small businesses and self-employed individuals; Credit Karma, a personal finance platform offering credit monitoring and related financial products; and Mailchimp, an email marketing and customer engagement service for businesses.

Intuit was founded in 1983 by Scott Cook and Tom Proulx.