Intuit (NASDAQ:INTU) Shares Down 0.2%

Intuit Inc. (NASDAQ:INTU)’s share price was down 0.2% on Thursday . The stock traded as low as $607.28 and last traded at $613.69. Approximately 224,594 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,233,164 shares. The stock had previously closed at $615.20.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. JPMorgan Chase & Co. increased their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Oppenheimer increased 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. KeyCorp increased their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Wells Fargo & Company increased their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Finally, Susquehanna increased their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Performance

The firm has a market cap of $172.38 billion, a P/E ratio of 62.86, a P/E/G ratio of 3.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50 day moving average is $639.05 and its 200 day moving average is $605.00.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. As a group, equities analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on 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 transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was 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 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Intuit in the third quarter worth $51,000. V Square Quantitative Management LLC grew its holdings in Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after purchasing an additional 482 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares during the last quarter. Hixon Zuercher LLC acquired a new position in shares of Intuit during the fourth quarter valued at about $1,292,000. Finally, Signature Wealth Management Group acquired a new position in shares of Intuit during the fourth quarter valued at about $1,747,000. Institutional investors own 83.66% of the company’s stock.

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.