Intuit Inc. (NASDAQ:INTU) Receives $679.41 Consensus PT from Brokerages

Shares of Intuit Inc. (NASDAQ:INTU) have earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $683.91.

A number of equities analysts have recently commented on the stock. Bank of America reduced their price objective on shares of Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a research note on Friday, May 24th. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Susquehanna lowered their target price on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a report on Friday, May 24th. KeyCorp increased their price target on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Morgan Stanley boosted their price objective on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th.

Intuit Trading Up 0.9 %

NASDAQ:INTU opened at $657.21 on Friday. The stock has a market capitalization of $183.72 billion, a PE ratio of 60.63, a price-to-earnings-growth ratio of 3.76 and a beta of 1.21. Intuit has a fifty-two week low of $444.19 and a fifty-two week high of $676.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The business’s 50-day simple moving average is $618.61 and its 200-day simple moving average is $628.28.

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

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The disclosure for this sale can be found here. Insiders sold a total of 193,937 shares of company stock valued at $113,123,232 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Intuit in the 4th quarter worth approximately $2,101,848,000. Wellington Management Group LLP boosted its position in Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC acquired a new stake in Intuit during the 4th quarter worth about $467,852,000. Parnassus Investments LLC raised its position in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares during the period. 83.66% of the stock is 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.