Brokerages Set Intuit Inc. (NASDAQ:INTU) PT at $720.37

Shares of Intuit Inc. (NASDAQ:INTU) have earned a consensus rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $720.37.

A number of brokerages have recently commented on INTU. BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada initiated coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Finally, Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. The disclosure for this sale can be found here. Insiders have sold 16,940 shares of company stock valued at $10,721,252 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INTU. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth about $2,101,848,000. Wellington Management Group LLP boosted its stake in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Intuit in the fourth quarter worth about $467,852,000. Parnassus Investments LLC boosted its stake in shares of Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Intuit by 54.7% in the fourth quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock worth $735,480,000 after buying an additional 416,099 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ:INTU opened at $655.31 on Wednesday. The company has a market cap of $183.68 billion, a price-to-earnings ratio of 60.45, a PEG ratio of 3.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50 day simple moving average is $636.63 and its two-hundred day simple moving average is $632.02. Intuit has a 1 year low of $473.56 and a 1 year high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, equities analysts anticipate that Intuit will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is currently 33.21%.

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.