Intuit (NASDAQ:INTU) Shares Up 0.6%

Intuit Inc. (NASDAQ:INTU - Get Free Report) shares shot up 0.6% on Tuesday . The company traded as high as $638.78 and last traded at $638.23. 190,662 shares traded hands during trading, a decline of 84% from the average session volume of 1,225,185 shares. The stock had previously closed at $634.64.

Analysts Set New Price Targets

A number of brokerages have commented on INTU. Susquehanna dropped their target price on shares of Intuit from $775.00 to $757.00 and set a "positive" rating on the stock in a research note on Friday. Piper Sandler raised their price objective on Intuit from $750.00 to $760.00 and gave the stock an "overweight" rating in a report on Friday. BMO Capital Markets reiterated an "outperform" rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Oppenheimer raised their price target on Intuit from $678.00 to $712.00 and gave the company an "outperform" rating in a research note on Friday, February 23rd. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $760.00 to $770.00 and gave the stock a "buy" rating in a report on Friday. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $679.41.

Intuit Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $166.68 billion, a price-to-earnings ratio of 56.00, a P/E/G ratio of 3.70 and a beta of 1.22. The firm has a fifty day simple moving average of $634.12 and a two-hundred day simple moving average of $622.77.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the business posted $7.80 EPS. Intuit's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 11.28 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.60%. Intuit's payout ratio is presently 33.21%.

Insider Activity

In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.90% of the company's stock.

Institutional Trading of Intuit

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in Intuit during the fourth quarter valued at $2,101,848,000. Wellington Management Group LLP lifted its holdings in shares of Intuit by 173.0% in the 4th 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 purchased a new stake in shares of Intuit in the fourth quarter worth about $467,852,000. Parnassus Investments LLC grew 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 worth $836,377,000 after acquiring an additional 727,185 shares during the period. Finally, International Assets Investment Management LLC raised its position in Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker's stock valued at $295,609,000 after acquiring an additional 472,172 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.