Intuit (NASDAQ:INTU) Price Target Cut to $476.00

Intuit (NASDAQ:INTUGet Rating) had its price objective trimmed by Oppenheimer to $476.00 in a report published on Wednesday, Stock Target Advisor reports.

Other research analysts also recently issued research reports about the company. StockNews.com started coverage on Intuit in a research note on Thursday, March 31st. They issued a hold rating for the company. Wells Fargo & Company cut their price target on shares of Intuit from $635.00 to $550.00 and set an overweight rating for the company in a report on Wednesday. Wolfe Research reduced their price target on shares of Intuit from $790.00 to $600.00 and set an outperform rating on the stock in a research report on Friday, February 25th. Stifel Nicolaus lowered their price objective on shares of Intuit from $580.00 to $465.00 in a research report on Wednesday. Finally, Edward Jones raised Intuit from a hold rating to a buy rating in a report on Friday, March 11th. One investment analyst has rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $558.84.

NASDAQ INTU opened at $422.48 on Wednesday. The firm has a 50-day moving average price of $434.51 and a two-hundred day moving average price of $523.13. Intuit has a 12-month low of $339.36 and a 12-month high of $716.86. The company has a market capitalization of $119.48 billion, a P/E ratio of 53.89, a P/E/G ratio of 2.89 and a beta of 1.16. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43.

Intuit (NASDAQ:INTUGet Rating) last issued its quarterly earnings results on Tuesday, May 24th. The software maker reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.58 by $0.07. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.51 billion. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The firm’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.45 earnings per share. Equities analysts expect that Intuit will post 8.14 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Monday, July 11th will be issued a $0.68 dividend. The ex-dividend date is Friday, July 8th. This represents a $2.72 dividend on an annualized basis and a yield of 0.64%. Intuit’s payout ratio is 34.69%.

In other news, EVP Laura A. Fennell sold 59,286 shares of the stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total transaction of $28,162,628.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Alexander Chriss sold 984 shares of the business’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $386.29, for a total transaction of $380,109.36. Following the completion of the transaction, the executive vice president now owns 343 shares in the company, valued at approximately $132,497.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,638 shares of company stock valued at $28,718,951. 3.27% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of INTU. B. Riley Wealth Management Inc. acquired a new stake in Intuit during the third quarter worth approximately $208,000. Vident Investment Advisory LLC boosted its holdings in shares of Intuit by 62.1% during the 3rd quarter. Vident Investment Advisory LLC now owns 3,948 shares of the software maker’s stock worth $2,131,000 after buying an additional 1,513 shares in the last quarter. Assetmark Inc. grew its position in shares of Intuit by 113.4% during the 3rd quarter. Assetmark Inc. now owns 909 shares of the software maker’s stock worth $490,000 after buying an additional 483 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Intuit by 2.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 396,235 shares of the software maker’s stock worth $213,773,000 after buying an additional 10,408 shares during the period. Finally, Carmignac Gestion increased its stake in shares of Intuit by 10.6% in the 3rd quarter. Carmignac Gestion now owns 14,735 shares of the software maker’s stock valued at $7,978,000 after acquiring an additional 1,410 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Intuit Company Profile (Get Rating)

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 ProConnect.

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