Intuit Inc. (NASDAQ:INTU) Receives $737.44 Consensus Target Price from Brokerages

Shares of Intuit Inc. (NASDAQ:INTU) have received an average rating of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $737.44.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler lowered their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note 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. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,265 shares of company stock worth $83,336,625. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently modified their holdings of the business. American Trust bought a new position in Intuit during the third quarter worth $1,126,000. Synovus Financial Corp raised its holdings in shares of Intuit by 3.2% during the third quarter. Synovus Financial Corp now owns 7,495 shares of the software maker’s stock valued at $4,654,000 after purchasing an additional 231 shares during the period. Tidal Investments LLC boosted its position in shares of Intuit by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 14,355 shares of the software maker’s stock worth $8,914,000 after purchasing an additional 4,620 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Intuit by 7.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker’s stock valued at $16,065,000 after buying an additional 1,721 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Intuit in the 3rd quarter valued at about $201,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU opened at $641.73 on Monday. The business has a fifty day moving average price of $634.10 and a two-hundred day moving average price of $631.46. The stock has a market capitalization of $179.71 billion, a PE ratio of 62.30, a P/E/G ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit has a fifty-two week low of $557.29 and a fifty-two week 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 analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, equities analysts predict that Intuit will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company 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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

About Intuit

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.