Intuit Inc. (NASDAQ:INTU) Receives $737.44 Average PT from Brokerages

Shares of Intuit Inc. (NASDAQ:INTU) have been assigned an average recommendation of “Moderate Buy” from the twenty research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $726.53.

A number of brokerages have weighed in on INTU. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday. Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd.

Intuit Trading Down 2.3 %

Shares of NASDAQ INTU opened at $607.29 on Tuesday. 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 stock’s 50 day moving average price is $649.03 and its two-hundred day moving average price is $637.60. Intuit has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market capitalization of $169.99 billion, a P/E ratio of 58.96, a PEG ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the business earned $1.14 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that Intuit will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity

In related news, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark P. Notarainni sold 363 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $11,941.50. The trade was a 95.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last 90 days. 2.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuit

A number of institutional investors and hedge funds have recently modified their holdings of INTU. State Street Corp increased its stake in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intuit by 1.4% in 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 during the period. Fisher Asset Management LLC increased its position in shares of Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intuit by 4.0% during the third 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 valued at $1,428,790,000 after acquiring an additional 87,517 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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.