Intuit Inc. (INTU) Hits New 1-Year High at $155.23

Intuit Inc. (NASDAQ:INTU)’s share price reached a new 52-week high on Monday . The stock traded as high as $155.23 and last traded at $153.30, with a volume of 712000 shares trading hands. The stock had previously closed at $152.41.

INTU has been the topic of several recent analyst reports. Jefferies Group LLC initiated coverage on shares of Intuit in a report on Thursday, August 24th. They issued a “buy” rating and a $157.00 target price on the stock. Oppenheimer Holdings, Inc. boosted their target price on shares of Intuit from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. UBS AG initiated coverage on shares of Intuit in a report on Thursday, November 9th. They issued a “neutral” rating and a $152.00 target price on the stock. Bank of America Corporation reiterated a “buy” rating and issued a $145.00 target price on shares of Intuit in a report on Wednesday, August 23rd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $155.00 target price (up from $150.00) on shares of Intuit in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $144.74.

The company has a market cap of $39,492.85, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 2.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.73 and a quick ratio of 0.73.

Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. During the same period in the prior year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. equities analysts expect that Intuit Inc. will post 4.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th were paid a dividend of $0.39 per share. This is an increase from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, October 6th. Intuit’s dividend payout ratio is presently 41.94%.

In other Intuit news, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO R Neil Williams sold 184,585 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $141.11, for a total transaction of $26,046,789.35. Following the completion of the sale, the chief financial officer now directly owns 64,620 shares in the company, valued at $9,118,528.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,084,194 shares of company stock worth $151,162,540. 5.70% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the business. FineMark National Bank & Trust increased its position in shares of Intuit by 0.4% in the 2nd quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock valued at $361,000 after purchasing an additional 11 shares during the last quarter. Cue Financial Group Inc. increased its position in shares of Intuit by 0.3% in the 2nd quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock valued at $930,000 after purchasing an additional 20 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Intuit by 0.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock valued at $935,000 after purchasing an additional 27 shares during the last quarter. Bank of Hawaii increased its position in shares of Intuit by 1.2% in the 2nd quarter. Bank of Hawaii now owns 2,509 shares of the software maker’s stock valued at $333,000 after purchasing an additional 30 shares during the last quarter. Finally, TCI Wealth Advisors Inc. increased its position in shares of Intuit by 0.6% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 5,592 shares of the software maker’s stock valued at $743,000 after purchasing an additional 36 shares during the last quarter. 86.10% of the stock is currently owned by institutional investors.

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About Intuit

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

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