Intuit Inc. (NASDAQ:INTU) Receives Average Rating of “Moderate Buy” from Analysts

Intuit Inc. (NASDAQ:INTU) has received an average rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $718.00.

Several equities research analysts have issued reports on INTU shares. Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BMO Capital Markets reduced their price objective 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. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Intuit Stock Down 6.2 %

Shares of NASDAQ INTU opened at $561.53 on Friday. The company has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27. 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 company has a 50 day simple moving average of $595.64 and a 200-day simple moving average of $620.79. Intuit has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.74%. Intuit’s payout ratio is 38.81%.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marianna Tessel sold 7,385 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,862 shares of company stock worth $18,767,673 over the last 90 days. 2.68% of the stock is owned by insiders.

Institutional Trading of Intuit

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