Analysts Set Intuit Inc. (NASDAQ:INTU) PT at $737.44

Intuit Inc. (NASDAQ:INTU) has been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $737.44.

Several equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock.

Intuit Stock Performance

Shares of Intuit stock opened at $643.39 on Friday. The business’s fifty day simple moving average is $644.08 and its 200 day simple moving average is $634.65. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a market capitalization of $180.10 billion, a P/E ratio of 62.47, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. As a group, analysts anticipate that Intuit will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio is 40.39%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,589 shares of company stock valued at $123,328,338 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Institutional Trading of Intuit

A number of institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC raised its holdings in Intuit by 33.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,408 shares of the software maker’s stock valued at $874,000 after buying an additional 351 shares during the last quarter. Garden State Investment Advisory Services LLC raised its stake in shares of Intuit by 55.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the software maker’s stock valued at $762,000 after acquiring an additional 436 shares during the last quarter. Denver PWM LLC purchased a new stake in shares of Intuit during the third quarter worth about $32,000. American Trust bought a new stake in shares of Intuit in the third quarter worth about $1,126,000. Finally, Synovus Financial Corp increased its holdings in Intuit by 3.2% during the 3rd quarter. Synovus Financial Corp now owns 7,495 shares of the software maker’s stock valued at $4,654,000 after purchasing an additional 231 shares during the period. 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.