Intuit Inc. (NASDAQ:INTU) Receives $735.71 Consensus PT from Analysts

Intuit Inc. (NASDAQ:INTU) has been given an average rating of “Moderate Buy” by the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $735.71.

Several analysts have issued reports on the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Barclays cut their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Citigroup lifted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd.

Intuit Stock Up 1.8 %

Shares of NASDAQ INTU opened at $613.37 on Friday. The business has a 50-day moving average of $632.16 and a 200-day moving average of $629.14. The firm has a market capitalization of $171.47 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 3.13 and a beta of 1.24. Intuit has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly 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 business had revenue of $3.18 billion for 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 business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Sell-side analysts expect that Intuit will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s payout ratio is 38.38%.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 51,297 shares of company stock worth $32,750,926 in the last ninety days. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INTU. Fortitude Family Office LLC raised its position in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after purchasing an additional 16 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC grew its stake in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Intuit by 2.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after purchasing an additional 17 shares during the last quarter. Finally, Stonebrook Private Inc. boosted its holdings in shares of Intuit by 4.5% during the 1st quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds 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.