Intuit (NASDAQ:INTU) Price Target Raised to $765.00

Intuit (NASDAQ:INTU) had its target price lifted by Mizuho from $750.00 to $765.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Redburn Atlantic assumed coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. Finally, BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Up 3.3 %

Shares of INTU stock opened at $617.51 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50-day moving average is $603.65 and its 200-day moving average is $626.24. The stock has a market cap of $172.63 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 2.85 and a beta of 1.24. Intuit has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,811 shares of company stock valued at $142,391,012 over the last quarter. Insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Intuit in the fourth quarter worth about $2,290,419,000. Proficio Capital Partners LLC grew its holdings in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Wellington Management Group LLP boosted its position in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Finally, Unisphere Establishment boosted its position in Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after buying an additional 500,000 shares during the period. 83.66% of the stock is owned by 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.