Intuit (NASDAQ:INTU) Stock Price Down 1.5%

Shares of Intuit Inc. (NASDAQ:INTU) dropped 1.5% during mid-day trading on Monday . The company traded as low as $645.66 and last traded at $645.75. 197,305 shares were traded during trading, a decline of 85% from the average daily volume of 1,319,121 shares. The stock had previously closed at $655.31.

Analysts Set New Price Targets

A number of equities analysts have recently commented on INTU shares. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Wells Fargo & Company upped their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Royal Bank of Canada assumed coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Price Performance

The stock has a market capitalization of $176.97 billion, a P/E ratio of 58.93, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50-day moving average price of $636.25 and a 200 day moving average price of $631.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS 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 analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. On average, analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s payout ratio is currently 38.38%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of Intuit 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 owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction 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 Intuit stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Insiders sold a total of 16,940 shares of company stock worth $10,721,252 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Institutional investors have recently modified their holdings of the company. Aveo Capital Partners LLC purchased a new position in Intuit during the 4th quarter valued at $203,000. 9258 Wealth Management LLC increased its position in shares of Intuit by 29.0% during the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after buying an additional 146 shares during the period. Gryphon Financial Partners LLC raised its stake in Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after buying an additional 393 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in Intuit by 8.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,147 shares of the software maker’s stock worth $717,000 after buying an additional 92 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in Intuit by 61.4% during the 4th quarter. Great Lakes Advisors LLC now owns 2,363 shares of the software maker’s stock valued at $1,477,000 after acquiring an additional 899 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.