Intuit (NASDAQ:INTU) Trading Up 0.8%

Intuit Inc. (NASDAQ:INTU - Get Free Report)'s share price was up 0.8% during mid-day trading on Wednesday . The company traded as high as $642.11 and last traded at $635.66. Approximately 293,740 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,236,519 shares. The stock had previously closed at $630.88.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. KeyCorp boosted their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an "overweight" rating in a research report on Wednesday, March 27th. Evercore ISI lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Wells Fargo & Company upped their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 21st. Piper Sandler lifted their target price on shares of Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. Finally, Barclays increased 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. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $645.00.

Intuit Price Performance

The stock has a market capitalization of $177.94 billion, a P/E ratio of 64.85, a price-to-earnings-growth ratio of 3.71 and a beta of 1.21. The business's 50 day moving average price is $641.40 and its 200 day moving average price is $601.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit's dividend payout ratio (DPR) is 36.73%.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following 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 is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company's stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently made changes to their positions in the company. Douglas Lane & Associates LLC lifted its stake in shares of Intuit by 7.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 767 shares of the software maker's stock worth $392,000 after acquiring an additional 50 shares during the last quarter. Founders Financial Securities LLC lifted its position in shares of Intuit by 9.6% during the third quarter. Founders Financial Securities LLC now owns 640 shares of the software maker's stock worth $327,000 after purchasing an additional 56 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in shares of Intuit by 77.3% during the third quarter. Meridian Wealth Management LLC now owns 2,340 shares of the software maker's stock valued at $1,196,000 after purchasing an additional 1,020 shares during the period. KFG Wealth Management LLC lifted its holdings in Intuit by 14.5% during the 3rd quarter. KFG Wealth Management LLC now owns 994 shares of the software maker's stock valued at $508,000 after buying an additional 126 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its position in Intuit by 1.5% in the 3rd quarter. Boston Trust Walden Corp now owns 3,683 shares of the software maker's stock valued at $1,882,000 after buying an additional 56 shares during the period. 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.