Stifel Nicolaus Cuts Intuit (NASDAQ:INTU) Price Target to $725.00

Intuit (NASDAQ:INTU) had its price objective cut by Stifel Nicolaus from $795.00 to $725.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other brokerages also recently issued reports on INTU. Bank of America lifted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Piper Sandler dropped their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Price Performance

INTU opened at $634.62 on Friday. The firm has a 50-day moving average price of $634.58 and a 200-day moving average price of $631.24. Intuit has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $177.77 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Intuit will post 14.05 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders 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 yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated 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. Over the last 90 days, insiders sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LGT Financial Advisors LLC bought a new stake in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the second quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit during the second quarter valued at approximately $35,000. 83.66% of the stock is currently owned by institutional investors.

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.