Analysts Set Intuit Inc. (NASDAQ:INTU) Target Price at $720.50

Intuit Inc. (NASDAQ:INTU) has been assigned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $721.61.

Several equities analysts recently issued reports on the stock. Scotiabank cut their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Citigroup cut their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Finally, Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th.

Intuit Price Performance

NASDAQ:INTU opened at $586.71 on Wednesday. Intuit has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a market capitalization of $164.02 billion, a price-to-earnings ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27. The company has a 50-day moving average of $600.43 and a 200-day moving average of $624.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 213,111 shares of company stock worth $137,327,184 in the last quarter. 2.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. R Squared Ltd acquired a new position in Intuit during the fourth quarter valued at approximately $25,000. Copia Wealth Management acquired a new position in Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC grew its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC acquired a new position in Intuit during the fourth quarter valued at approximately $28,000. Finally, Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.