Intuit Inc. (NASDAQ:INTU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Intuit Inc. (NASDAQ:INTU) have received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $735.71.

A number of research analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. JPMorgan Chase & Co. upped their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, 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.

Insider Buying and Selling

In other Intuit 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 transaction of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction 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 $33,427,129.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 775 shares of Intuit 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 directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

A number of institutional investors and hedge funds have recently made changes to their positions in INTU. Vanguard Group Inc. boosted its stake in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares during the last quarter. Legal & General Group Plc raised its holdings in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares during the period. Ameriprise Financial Inc. lifted its position in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares during the period. Finally, Capital World Investors increased its position in Intuit by 1.0% in the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after buying an additional 12,068 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $648.39 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $623.43 and its two-hundred day moving average price is $626.96. The stock has a market capitalization of $181.74 billion, a price-to-earnings ratio of 62.05, a PEG ratio of 3.03 and a beta of 1.25. Intuit has a 12-month low of $506.97 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. As a group, equities analysts predict that Intuit will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

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.