Intuit (NASDAQ:INTU) Shares Down 0.9%

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

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Royal Bank of Canada assumed coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Stifel Nicolaus increased their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Down 0.5 %

The firm’s 50-day moving average is $636.25 and its 200 day moving average is $631.29. The firm has a market capitalization of $179.29 billion, a P/E ratio of 58.93, a PEG 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.

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 company had revenue of $3.18 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $0.40 earnings per share. As a group, equities research analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced 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 represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 directly owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,940 shares of company stock worth $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

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