Brokerages Set Intuit Inc. (NASDAQ:INTU) PT at $737.44

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

Several research analysts have recently weighed in on the stock. Barclays cut their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley boosted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Finally, Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,589 shares of company stock valued at $123,328,338 in the last ninety days. Insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several large investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $3,701,762,000 after acquiring an additional 80,463 shares during the period. Fisher Asset Management LLC grew its position in Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares in the last quarter. Legal & General Group Plc raised its stake in shares of 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 buying an additional 23,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $646.19 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $180.88 billion, a PE ratio of 62.74, a P/E/G ratio of 3.31 and a beta of 1.24. The firm has a 50 day simple moving average of $646.50 and a 200-day simple moving average of $636.18. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share 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 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 was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, equities analysts expect that Intuit will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. Intuit’s dividend payout ratio is currently 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.