Intuit (NASDAQ:INTU) Price Target Raised to $800.00

Intuit (NASDAQ:INTU) had its price objective hoisted by Barclays from $740.00 to $800.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

INTU has been the topic of a number of other reports. Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus increased their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. 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. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $739.24.

Intuit Price Performance

INTU opened at $687.87 on Friday. The stock has a fifty day simple moving average of $633.08 and a two-hundred day simple moving average of $630.19. 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 company has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. Intuit has a 12-month low of $552.68 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Research analysts predict that Intuit will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 39.81%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % 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, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in Intuit by 1.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 197,805 shares of the software maker’s stock valued at $122,837,000 after purchasing an additional 2,640 shares during the period. Conway Capital Management Inc. bought a new stake in Intuit in the 3rd quarter worth approximately $2,279,000. Continuum Advisory LLC increased its stake in Intuit by 28.6% in the 3rd quarter. Continuum Advisory LLC now owns 171 shares of the software maker’s stock worth $106,000 after acquiring an additional 38 shares during the last quarter. Finally, Peloton Wealth Strategists increased its stake in Intuit by 769.6% in the 3rd quarter. Peloton Wealth Strategists now owns 3,661 shares of the software maker’s stock worth $2,273,000 after acquiring an additional 3,240 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

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.