Intuit (NASDAQ:INTU) Trading 0.2% Higher

Intuit Inc. (NASDAQ:INTU)’s share price was up 0.2% on Monday . The company traded as high as $630.00 and last traded at $622.40. Approximately 155,355 shares changed hands during trading, a decline of 87% from the average daily volume of 1,238,608 shares. The stock had previously closed at $621.11.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. KeyCorp boosted their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Wells Fargo & Company lifted their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, Susquehanna upped their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Down 0.1 %

The firm has a market cap of $171.22 billion, a price-to-earnings ratio of 62.40, a PEG ratio of 3.73 and a beta of 1.21. The firm has a 50 day moving average of $645.48 and a 200 day moving average of $598.28. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, sell-side analysts predict that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s payout ratio is currently 36.73%.

Insider Activity

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

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently modified their holdings of the business. Fairfield Bush & CO. raised its stake in shares of Intuit by 39.6% in the first quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after buying an additional 1,035 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Intuit by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after buying an additional 48,196 shares during the period. Cetera Investment Advisers raised its stake in shares of Intuit by 8.4% in the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock valued at $1,552,000 after buying an additional 249 shares during the period. Baird Financial Group Inc. raised its stake in shares of Intuit by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock valued at $25,825,000 after purchasing an additional 3,576 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Intuit by 6.6% during the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock valued at $16,448,000 after purchasing an additional 2,127 shares during the period. Hedge funds and other 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.