Intuit (NASDAQ:INTU) Given “Overweight” Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Intuit (NASDAQ:INTU) in a report issued on Friday,Benzinga reports. They currently have a $765.00 price target on the software maker’s stock.

Several other analysts have also recently issued reports on INTU. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Trading Down 0.4 %

Intuit stock opened at $623.43 on Friday. Intuit has a 1 year low of $557.29 and a 1 year high of $714.78. The firm’s 50 day moving average price is $649.58 and its 200-day moving average price is $638.15. 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 stock has a market cap of $174.51 billion, a P/E ratio of 60.53, a PEG ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. On average, equities analysts predict that Intuit will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total transaction of $814,346.00. Following the transaction, the chief financial officer now owns 644 shares of the company’s stock, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 291,936 shares of company stock valued at $188,324,604. 2.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuit

Institutional investors have recently bought and sold shares of the business. Graypoint LLC boosted its position in Intuit by 65.8% during the 4th quarter. Graypoint LLC now owns 4,045 shares of the software maker’s stock valued at $2,542,000 after acquiring an additional 1,606 shares in the last quarter. RMR Wealth Builders boosted its position in Intuit by 7.6% during the fourth quarter. RMR Wealth Builders now owns 2,511 shares of the software maker’s stock valued at $1,578,000 after purchasing an additional 177 shares in the last quarter. Tilia Fiduciary Partners Inc. grew its stake in Intuit by 2.0% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 3,075 shares of the software maker’s stock valued at $1,933,000 after purchasing an additional 59 shares during the last quarter. Jacobs & Co. CA raised its holdings in Intuit by 2.8% in the fourth quarter. Jacobs & Co. CA now owns 13,348 shares of the software maker’s stock worth $8,389,000 after purchasing an additional 359 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Intuit by 2.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,353 shares of the software maker’s stock valued at $2,107,000 after buying an additional 76 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.