Intuit (NASDAQ:INTU) Shares Down 0.9%

Intuit Inc. (NASDAQ:INTU)’s stock price traded down 0.9% during trading on Wednesday . The stock traded as low as $635.10 and last traded at $638.81. 101,541 shares were traded during trading, a decline of 92% from the average session volume of 1,314,346 shares. The stock had previously closed at $644.82.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Finally, Stifel Nicolaus increased their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Performance

The firm’s 50-day moving average price is $636.25 and its two-hundred day moving average price is $631.29. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $179.29 billion, a PE ratio of 58.93, a P/E/G ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. As a group, research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,940 shares of company stock valued at $10,721,252. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuit

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in shares of Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co increased its position in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC increased its position in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares during the period. Finally, Hohimer Wealth Management LLC raised its stake in shares of Intuit by 0.9% in the fourth quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker’s stock valued at $1,135,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is currently 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.