Intuit (NASDAQ:INTU) Stock Price Up 1.2%

Shares of Intuit Inc. (NASDAQ:INTU) rose 1.2% during mid-day trading on Monday . The company traded as high as $644.63 and last traded at $644.06. Approximately 205,126 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,236,654 shares. The stock had previously closed at $636.55.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Piper Sandler raised their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays increased their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Stock Down 2.0 %

The firm has a market cap of $175.17 billion, a price-to-earnings ratio of 63.84, a P/E/G ratio of 3.89 and a beta of 1.21. The firm’s 50 day moving average price is $639.51 and its two-hundred day moving average price is $604.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.58%. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit 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 document filed with the SEC, which is available at the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

A number of institutional investors have recently made changes to their positions in the stock. Desjardins Global Asset Management Inc. increased its stake in shares of Intuit by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after purchasing an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares during the last quarter. GAM Holding AG increased its stake in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after purchasing an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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.