Intuit (NASDAQ:INTU) Shares Gap Down to $650.42

Intuit Inc. (NASDAQ:INTUGet Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $650.42, but opened at $636.69. Intuit shares last traded at $632.70, with a volume of 176,781 shares changing hands.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent research reports. Stifel Nicolaus dropped their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Wells Fargo & Company raised their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Bank of America lowered their target price on shares of Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a report on Friday, May 24th. UBS Group increased their price target on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $687.22.

Check Out Our Latest Report on Intuit

Intuit Stock Performance

The stock’s 50 day moving average is $622.66 and its two-hundred day moving average is $630.36. The stock has a market capitalization of $175.82 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 3.77 and a beta of 1.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the company earned $7.80 earnings per share. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 14,748 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the transaction, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $567.75, for a total value of $42,581,250.00. Following the sale, the insider now owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,963 shares of company stock worth $114,442,445. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INTU. Vanguard Group Inc. lifted its stake in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Brown Advisory Inc. increased its holdings in shares of Intuit by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after acquiring an additional 80,517 shares during the last quarter. Norges Bank acquired a new position in shares of Intuit during the 4th quarter worth approximately $2,101,848,000. Finally, Fisher Asset Management LLC raised its stake in Intuit by 9.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock valued at $1,946,954,000 after acquiring an additional 270,432 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Company Profile

(Get Free Report)

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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