Brokerages Set Intuit Inc. (NASDAQ:INTU) Price Target at $721.61

Intuit Inc. (NASDAQ:INTU) has been assigned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $718.00.

INTU has been the topic of a number of recent research reports. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. 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 research report on Wednesday, February 26th.

Intuit Stock Performance

Shares of INTU stock opened at $561.53 on Friday. The stock’s 50-day moving average price is $595.64 and its 200 day moving average price is $620.79. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $156.98 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit has a 52-week low of $553.24 and a 52-week high of $714.78.

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 $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.74%. Intuit’s dividend payout ratio is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,862 shares of company stock valued at $18,767,673 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

A number of institutional investors have recently modified their holdings of INTU. Quantbot Technologies LP grew its stake in Intuit by 1,027.3% in the 3rd quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock worth $77,000 after acquiring an additional 113 shares during the period. Glenmede Trust Co. NA grew its position in shares of Intuit by 2.4% in the third quarter. Glenmede Trust Co. NA now owns 15,647 shares of the software maker’s stock valued at $9,717,000 after purchasing an additional 361 shares during the period. Captrust Financial Advisors increased its stake in Intuit by 6.9% in the third quarter. Captrust Financial Advisors now owns 64,896 shares of the software maker’s stock valued at $40,300,000 after purchasing an additional 4,184 shares during the last quarter. Eventide Asset Management LLC lifted its position in Intuit by 66.9% during the third quarter. Eventide Asset Management LLC now owns 5,971 shares of the software maker’s stock worth $3,708,000 after buying an additional 2,393 shares during the period. Finally, Circle Wealth Management LLC boosted its stake in Intuit by 130.3% in the 3rd quarter. Circle Wealth Management LLC now owns 2,319 shares of the software maker’s stock worth $1,440,000 after buying an additional 1,312 shares during the last quarter. Institutional investors and hedge funds 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.