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

Shares of Intuit Inc. (NASDAQ:INTU) have received an average rating of “Moderate Buy” from the nineteen research firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $737.44.

A number of equities research analysts have weighed in on INTU shares. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Finally, Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,589 shares of company stock worth $123,328,338. 2.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter worth $25,000. Fairway Wealth LLC bought a new position in shares of Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at about $27,000. Denver PWM LLC bought a new stake in Intuit in the 3rd quarter valued at about $32,000. Finally, Dunhill Financial LLC boosted its holdings in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 1.1 %

INTU stock opened at $645.29 on Friday. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. The business has a 50-day simple moving average of $644.50 and a 200 day simple moving average of $635.54. 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 cap of $180.63 billion, a PE ratio of 62.65, a price-to-earnings-growth ratio of 3.31 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its 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 company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. Sell-side analysts anticipate that Intuit will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is presently 40.39%.

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.