Intuit (NASDAQ:INTU) Trading Up 3.9%

Intuit Inc. (NASDAQ:INTU) was up 3.9% during trading on Thursday . The company traded as high as $657.47 and last traded at $657.47. Approximately 280,974 shares changed hands during trading, a decline of 79% from the average daily volume of 1,313,601 shares. The stock had previously closed at $633.07.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INTU. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Citigroup increased their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada started coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Performance

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 business’s fifty day moving average price is $636.26 and its two-hundred day moving average price is $631.30. The stock has a market capitalization of $182.74 billion, a P/E ratio of 60.65, a P/E/G ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (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 the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given 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 dividend on an annualized basis and a yield of 0.64%. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. Insiders have sold 16,940 shares of company stock worth $10,721,252 over the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Wellington Management Group LLP grew its holdings in Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Fisher Asset Management LLC increased its position in Intuit by 9.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock valued at $1,946,954,000 after purchasing an additional 270,432 shares during the period. Legal & General Group Plc raised its holdings in shares of Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after purchasing an additional 23,995 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. 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.