Intuit (NASDAQ:INTU) Stock Price Up 2.1%

Intuit Inc. (NASDAQ:INTU) shot up 2.1% on Friday . The stock traded as high as $630.45 and last traded at $627.01. 233,537 shares traded hands during trading, a decline of 81% from the average session volume of 1,231,675 shares. The stock had previously closed at $614.04.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler raised their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Evercore ISI upped their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays boosted their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Price Performance

The company has a 50 day moving average of $637.56 and a 200 day moving average of $605.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $176.20 billion, a price-to-earnings ratio of 64.21, a price-to-earnings-growth ratio of 3.74 and a beta of 1.22.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the firm posted $1.05 EPS. The company’s revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Activity

In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Several large investors have recently bought and sold shares of INTU. NewSquare Capital LLC purchased a new stake in Intuit during the 3rd quarter worth $25,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. Cape Investment Advisory Inc. acquired a new position in shares of Intuit in the third quarter worth about $26,000. West Branch Capital LLC boosted its holdings in Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. Finally, MCF Advisors LLC grew its stake in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds 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.