Intuit (NASDAQ:INTU) Stock Price Up 0%

Intuit Inc. (NASDAQ:INTU)’s stock price shot up 0% during trading on Tuesday . The stock traded as high as $631.03 and last traded at $627.29. 93,594 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,321,523 shares. The stock had previously closed at $626.99.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on INTU shares. KeyCorp upped their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Barclays lowered their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $720.37.

Intuit Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $180.01 billion, a P/E ratio of 59.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. The firm has a 50 day moving average price of $637.17 and a two-hundred day moving average price of $631.98.

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

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,940 shares of company stock valued at $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $12,334,000. Brown Financial Advisors bought a new position in shares of Intuit in the second quarter valued at approximately $1,067,000. Sycomore Asset Management boosted its holdings in shares of Intuit by 23.7% during the 2nd quarter. Sycomore Asset Management now owns 31,553 shares of the software maker’s stock worth $20,114,000 after buying an additional 6,039 shares during the period. Clearbridge Investments LLC grew its stake in Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares during the last quarter. Finally, New Century Financial Group LLC boosted its holdings in Intuit by 52.2% during the second quarter. New Century Financial Group LLC now owns 1,149 shares of the software maker’s stock valued at $755,000 after acquiring an additional 394 shares during the period. 83.66% of the stock is 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.