Intuit (NASDAQ:INTU) Shares Down 2.3%

Shares of Intuit Inc. (NASDAQ:INTU - Get Free Report) fell 2.3% on Thursday . The stock traded as low as $620.72 and last traded at $620.76. 207,273 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,237,188 shares. The stock had previously closed at $635.49.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on INTU shares. Stifel Nicolaus boosted their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday. Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. BMO Capital Markets restated an "outperform" rating and set a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Finally, Susquehanna raised their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a "positive" rating in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $650.23.

Intuit Stock Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $175.39 billion, a P/E ratio of 63.34, a P/E/G ratio of 3.84 and a beta of 1.21. The firm has a 50 day moving average price of $641.40 and a 200-day moving average price of $601.86.

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

Intuit Announces Dividend

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

Insiders Place Their Bets

In other Intuit 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 document filed with the SEC, which can be accessed through this link. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. Company insiders own 2.90% of the company's stock.

Institutional Trading of Intuit

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Intuit during the fourth quarter valued at about $2,101,848,000. Wellington Management Group LLP raised its stake in 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 purchasing an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC bought a new stake in shares of Intuit during the 4th quarter worth $467,852,000. Parnassus Investments LLC increased its position in shares of Intuit by 119.0% during the 4th 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. Finally, International Assets Investment Management LLC grew its holdings in shares of Intuit by 60,534.9% during the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker's stock valued at $295,609,000 after purchasing an additional 472,172 shares during the last quarter. Institutional investors and hedge funds 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.

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