Jefferies Financial Group Increases Intuit (NASDAQ:INTU) Price Target to $800.00

Intuit (NASDAQ:INTU) had its price target upped by Jefferies Financial Group from $790.00 to $800.00 in a report issued on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the software maker’s stock.

INTU has been the subject of several other research reports. Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Barclays dropped their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley increased their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Piper Sandler lowered their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $634.62 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $177.77 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The firm’s 50 day simple moving average is $634.58 and its 200-day simple moving average is $631.24. Intuit has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, equities analysts predict that Intuit will post 14.05 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,265 shares of company stock worth $35,200,125. Insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. Legal & General Group Plc lifted its stake in Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares in the last quarter. 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.