Intuit (NASDAQ:INTU) Stock Price Up 0.3%

Intuit Inc. (NASDAQ:INTU)’s share price traded up 0.3% during mid-day trading on Friday . The stock traded as high as $650.00 and last traded at $648.50. 164,355 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,319,302 shares. The stock had previously closed at $646.37.

Wall Street Analyst Weigh In

INTU has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. UBS Group boosted their price target on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Finally, Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

Intuit Stock Performance

The firm’s 50-day simple moving average is $636.63 and its two-hundred day simple moving average is $631.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $183.68 billion, a PE ratio of 60.45, a PEG ratio of 3.14 and a beta of 1.24.

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

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.63%. Intuit’s dividend payout ratio is currently 33.21%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,940 shares of company stock worth $10,721,252. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. LGT Financial Advisors LLC bought a new stake in Intuit in the second quarter worth $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the second quarter worth about $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $35,000. Finally, Trifecta Capital Advisors LLC raised its stake in shares of Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.