Analysts Set Intuit Inc. (NASDAQ:INTU) Price Target at $694.27

Shares of Intuit Inc. (NASDAQ:INTU) have earned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $694.27.

A number of research analysts recently commented on the stock. Bank of America decreased their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Piper Sandler reiterated an “overweight” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, July 12th. Jefferies Financial Group restated a “buy” rating and issued a $770.00 price target on shares of Intuit in a research note on Thursday, June 13th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Susquehanna reduced their target price on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research report on Friday, May 24th.

Intuit Stock Performance

INTU opened at $633.36 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a market cap of $177.05 billion, a price-to-earnings ratio of 58.43, a PEG ratio of 3.58 and a beta of 1.23. Intuit has a 12-month low of $473.56 and a 12-month high of $676.62. The business has a 50 day moving average of $623.96 and a 200-day moving average of $632.89.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the previous year, the business posted $7.80 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Intuit will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,963 shares of company stock worth $114,442,445. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several large investors have recently added to or reduced their stakes in the business. Desjardins Global Asset Management Inc. grew its position in shares of Intuit by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after buying an additional 16 shares during the period. JFS Wealth Advisors LLC increased its stake in Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after purchasing an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after purchasing an additional 16 shares during the period. Finally, WASHINGTON TRUST Co boosted its position in shares of Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares in 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.