Intuit (NASDAQ:INTU) Stock Price Up 0%

Intuit Inc. (NASDAQ:INTU) shares shot up 0% during mid-day trading on Tuesday . The company traded as high as $631.03 and last traded at $627.29. 93,594 shares were traded 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 Upgrades and Downgrades

A number of brokerages have recently commented on INTU. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, KeyCorp upped their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Price Performance

The company’s 50 day moving average price is $637.17 and its 200 day moving average price is $631.98. 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 has a market cap of $180.01 billion, a price-to-earnings ratio of 59.40, a P/E/G ratio of 3.00 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm 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%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, equities research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

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

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,940 shares of company stock valued at $10,721,252. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Intuit

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Intuit in the 4th quarter worth $2,101,848,000. Wellington Management Group LLP boosted its position in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the period. Lone Pine Capital LLC acquired a new position in shares of Intuit during the fourth quarter worth about $467,852,000. Parnassus Investments LLC raised its position in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after buying an additional 727,185 shares during the last quarter. Finally, Capital World Investors raised its position in Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after buying an additional 416,099 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.