Intuit (NASDAQ:INTU) Shares Down 0%

Intuit Inc. (NASDAQ:INTU)’s share price dropped 0% on Monday . The company traded as low as $644.53 and last traded at $644.86. Approximately 128,147 shares traded hands during trading, a decline of 90% from the average daily volume of 1,323,154 shares. The stock had previously closed at $644.99.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Royal Bank of Canada started coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Barclays reduced their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Stifel Nicolaus boosted their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Stock Down 0.7 %

The stock has a market cap of $179.04 billion, a PE ratio of 59.49, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. 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 company’s 50-day moving average price is $636.82 and its 200 day moving average price is $631.11.

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, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is presently 38.38%.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,389 shares of company stock valued at $14,231,188. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Intuit

Several hedge funds have recently bought and sold shares of INTU. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Intuit by 84.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 93,025 shares of the software maker’s stock worth $61,137,000 after buying an additional 42,685 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Intuit during the 2nd quarter worth approximately $786,000. Sanctuary Advisors LLC bought a new position in shares of Intuit during the 2nd quarter valued at approximately $12,334,000. Brown Financial Advisors purchased a new position in shares of Intuit in the second quarter valued at $1,067,000. Finally, Sycomore Asset Management increased its position in Intuit by 23.7% in the second quarter. Sycomore Asset Management now owns 31,553 shares of the software maker’s stock worth $20,114,000 after purchasing an additional 6,039 shares during the last quarter. Hedge funds and other 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.