Intuit (NASDAQ:INTU) Stock Price Down 1.5%

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Bank of America raised their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Wells Fargo & Company increased their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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 business has a fifty day simple moving average of $636.25 and a 200 day simple moving average of $631.29. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

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

Intuit Increases Dividend

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

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $15,752,985.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,940 shares of company stock worth $10,721,252. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares during the period. Lone Pine Capital LLC bought a new stake in Intuit in the 4th quarter valued at about $467,852,000. Parnassus Investments LLC lifted its holdings in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the last quarter. Capital World Investors boosted its position in Intuit by 54.7% during the fourth quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock worth $735,480,000 after purchasing an additional 416,099 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Intuit by 940.4% in the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after purchasing an additional 285,328 shares in the last quarter. 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.