Intuit (NASDAQ:INTU) Shares Up 3.2%

Intuit Inc. (NASDAQ:INTU) shares shot up 3.2% during trading on Tuesday . The stock traded as high as $630.87 and last traded at $629.24. 263,617 shares traded hands during trading, a decline of 79% from the average session volume of 1,232,925 shares. The stock had previously closed at $609.77.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. Evercore ISI upped their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Wells Fargo & Company increased their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Susquehanna increased their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. KeyCorp increased their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Up 0.7 %

The business has a 50 day moving average of $641.40 and a 200-day moving average of $601.86. The stock has a market cap of $177.94 billion, a PE ratio of 64.85, a P/E/G ratio of 3.84 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.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. Equities research analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio is currently 36.73%.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last three months. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

A number of institutional investors have recently made changes to their positions in the stock. Leavell Investment Management Inc. raised its holdings in shares of Intuit by 7.8% in the first quarter. Leavell Investment Management Inc. now owns 1,072 shares of the software maker’s stock worth $697,000 after acquiring an additional 78 shares during the last quarter. Family Legacy Inc. grew its position in shares of Intuit by 7.9% in the first quarter. Family Legacy Inc. now owns 2,235 shares of the software maker’s stock valued at $1,453,000 after purchasing an additional 164 shares during the period. V Square Quantitative Management LLC grew its position in shares of Intuit by 20.6% in the first quarter. V Square Quantitative Management LLC now owns 6,678 shares of the software maker’s stock valued at $4,341,000 after purchasing an additional 1,142 shares during the period. Berkshire Bank grew its position in shares of Intuit by 21.7% in the first quarter. Berkshire Bank now owns 741 shares of the software maker’s stock valued at $482,000 after purchasing an additional 132 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Intuit by 98.1% in the first quarter. Newbridge Financial Services Group Inc. now owns 840 shares of the software maker’s stock valued at $546,000 after purchasing an additional 416 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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.