Intuit (NASDAQ:INTU) Stock Price Down 7.1% – Here’s Why

by · The Cerbat Gem

Intuit Inc. (NASDAQ:INTU – Get Free Report)’s share price dropped 7.1% during trading on Thursday . The company traded as low as $361.80 and last traded at $361.9590. Approximately 3,700,064 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 3,874,032 shares. The stock had previously closed at $389.51.

Intuit News Summary

Here are the key news stories impacting Intuit this week:

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTU. Scotiabank set a $575.00 target price on Intuit in a research report on Friday, March 6th. Citigroup cut their target price on Intuit from $803.00 to $649.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Mizuho cut their target price on Intuit from $675.00 to $600.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Oppenheimer cut their target price on Intuit from $696.00 to $558.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings cut Intuit from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $638.06.

Get Our Latest Research Report on Intuit

Intuit Stock Performance

The company has a 50-day simple moving average of $428.09 and a two-hundred day simple moving average of $570.99. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.28. The firm has a market cap of $99.34 billion, a PE ratio of 23.10, a PEG ratio of 1.70 and a beta of 1.21.

Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The software maker reported $4.15 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.47. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Intuit had a return on equity of 24.23% and a net margin of 21.57%.The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.32 earnings per share. Intuit has set its Q3 2026 guidance at 12.450-12.510 EPS and its FY 2026 guidance at 22.980-23.180 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 9th will be paid a $1.20 dividend. The ex-dividend date is Thursday, April 9th. This represents a $4.80 annualized dividend and a dividend yield of 1.3%. Intuit’s payout ratio is presently 31.09%.

Insider Activity

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $440.40, for a total value of $146,653.20. Following the sale, the director directly owned 13,253 shares in the company, valued at $5,836,621.20. The trade was a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.49% of the stock is currently owned by insiders.

Institutional Trading of Intuit

A number of hedge funds and other institutional investors have recently made changes to their positions in INTU. Brighton Jones LLC raised its stake in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock valued at $2,233,000 after purchasing an additional 1,350 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock valued at $511,000 after purchasing an additional 482 shares during the period. Nicholas Hoffman & Company LLC. bought a new stake in shares of Intuit during the 1st quarter valued at $785,564,000. Sivia Capital Partners LLC increased its stake in Intuit by 23.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 886 shares of the software maker’s stock worth $698,000 after acquiring an additional 166 shares during the last quarter. Finally, Florida Financial Advisors LLC increased its stake in Intuit by 12.2% in the 2nd quarter. Florida Financial Advisors LLC now owns 470 shares of the software maker’s stock worth $370,000 after acquiring an additional 51 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Company Profile

(Get Free Report)

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

See Also