Intuit (NASDAQ:INTU) Trading Down 0.2%

Intuit Inc. (NASDAQ:INTU) dropped 0.2% during mid-day trading on Monday . The stock traded as low as $627.97 and last traded at $628.30. Approximately 159,366 shares were traded during trading, a decline of 87% from the average daily volume of 1,229,750 shares. The stock had previously closed at $629.27.

Analyst Ratings Changes

INTU has been the subject of several analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Mizuho upped their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Evercore ISI upped their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Piper Sandler upped their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Performance

The firm’s fifty day moving average price is $636.41 and its 200 day moving average price is $608.45. 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 has a market capitalization of $177.08 billion, a PE ratio of 64.53, a PEG ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly 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. 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%. Intuit’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. On average, research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intuit 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Over the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

A number of hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC raised its position in shares of Intuit by 4.6% during the first quarter. William Blair Investment Management LLC now owns 508,812 shares of the software maker’s stock valued at $330,728,000 after buying an additional 22,357 shares during the last quarter. Motley Fool Asset Management LLC raised its position in shares of Intuit by 7.3% during the first quarter. Motley Fool Asset Management LLC now owns 8,272 shares of the software maker’s stock valued at $5,377,000 after buying an additional 564 shares during the last quarter. Sheets Smith Wealth Management raised its position in shares of Intuit by 32.6% during the first quarter. Sheets Smith Wealth Management now owns 21,219 shares of the software maker’s stock valued at $13,792,000 after buying an additional 5,222 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Intuit by 1.0% during the first quarter. Bleakley Financial Group LLC now owns 4,773 shares of the software maker’s stock valued at $3,102,000 after buying an additional 47 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Intuit by 19.2% in the first quarter. ProShare Advisors LLC now owns 334,930 shares of the software maker’s stock worth $217,704,000 after purchasing an additional 53,950 shares in the last quarter. 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.