Jefferies Financial Group Cuts Intuit (NASDAQ:INTU) Price Target to $735.00

Intuit (NASDAQ:INTU) had its price objective decreased by Jefferies Financial Group from $800.00 to $735.00 in a report issued on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the software maker’s stock.

A number of other brokerages have also issued reports on INTU. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Trading Up 1.2 %

Shares of NASDAQ:INTU opened at $620.91 on Monday. The business’s 50-day moving average is $596.37 and its 200 day moving average is $621.71. 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 1 year low of $553.24 and a 1 year high of $714.78. The firm has a market capitalization of $173.58 billion, a P/E ratio of 60.28, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % 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 109 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,334 shares of company stock valued at $19,064,325. 2.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INTU. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at about $25,000. Copia Wealth Management acquired a new stake in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC lifted its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.