Brokerages Set Intuit Inc. (NASDAQ:INTU) PT at $785.33

Shares of Intuit Inc. (NASDAQ:INTU) have been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $787.95.

Several research analysts have commented on INTU shares. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Susquehanna reaffirmed a “positive” rating on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $820.00 price objective (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an “overweight” rating in a report on Friday, June 13th.

Intuit Trading Down 1.3%

INTU opened at $754.83 on Friday. The business has a fifty day moving average price of $679.41 and a 200 day moving average price of $633.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit has a 12 month low of $532.65 and a 12 month high of $773.45. The stock has a market capitalization of $210.56 billion, a price-to-earnings ratio of 61.27, a PEG ratio of 3.36 and a beta of 1.28.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the company posted $9.88 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts expect that Intuit will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is 33.77%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Insiders sold a total of 279,321 shares of company stock worth $207,988,705 in the last 90 days. Company insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INTU. Peloton Wealth Strategists lifted its holdings in shares of Intuit by 0.3% during the first quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker’s stock worth $2,710,000 after purchasing an additional 15 shares during the period. Decatur Capital Management Inc. lifted its stake in shares of Intuit by 0.3% in the 1st quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker’s stock worth $3,069,000 after acquiring an additional 16 shares during the period. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Ethos Financial Group LLC increased its stake in shares of Intuit by 3.7% during the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock worth $319,000 after acquiring an additional 18 shares during the period. Finally, Legacy Investment Solutions LLC raised its holdings in Intuit by 18.0% during the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock worth $68,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.