Intuit (NASDAQ:INTU) PT Lowered to $715.00

Intuit (NASDAQ:INTU) had its price target cut by Barclays from $802.00 to $715.00 in a research report sent to investors on Wednesday, The Fly reports.

A number of other research analysts also recently issued reports on INTU. Morgan Stanley boosted their price target on Intuit from $615.00 to $715.00 and gave the company an overweight rating in a report on Monday, November 15th. Wells Fargo & Company upped their target price on Intuit from $625.00 to $710.00 and gave the stock an overweight rating in a report on Wednesday, November 17th. Jefferies Financial Group upped their target price on Intuit from $640.00 to $790.00 and gave the stock a buy rating in a report on Friday, November 19th. The Goldman Sachs Group upgraded Intuit from a neutral rating to a buy rating and upped their target price for the stock from $535.00 to $840.00 in a report on Friday, November 19th. Finally, Zacks Investment Research upgraded Intuit from a strong sell rating to a hold rating and set a $633.00 target price on the stock in a report on Tuesday, October 26th. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $665.10.

NASDAQ INTU opened at $550.79 on Wednesday. Intuit has a 1-year low of $359.33 and a 1-year high of $716.86. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $634.61 and a 200-day moving average of $577.70. The firm has a market cap of $155.97 billion, a PE ratio of 72.86, a price-to-earnings-growth ratio of 4.56 and a beta of 1.04.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 18th. The software maker reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.56. Intuit had a return on equity of 22.39% and a net margin of 20.28%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the company posted $0.61 EPS. Intuit’s revenue for the quarter was up 51.7% on a year-over-year basis. As a group, equities research analysts forecast that Intuit will post 7.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Stockholders of record on Monday, January 10th will be paid a $0.68 dividend. The ex-dividend date is Friday, January 7th. This represents a $2.72 annualized dividend and a dividend yield of 0.49%. Intuit’s dividend payout ratio (DPR) is 35.98%.

In other Intuit news, CEO Sasan K. Goodarzi sold 35,994 shares of the stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $685.96, for a total value of $24,690,444.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michelle M. Clatterbuck sold 620 shares of the stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $691.96, for a total value of $429,015.20. The disclosure for this sale can be found here. Insiders sold a total of 51,950 shares of company stock valued at $34,464,008 over the last 90 days. 3.27% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Spire Wealth Management grew its position in shares of Intuit by 8.4% during the fourth quarter. Spire Wealth Management now owns 2,202 shares of the software maker’s stock valued at $1,417,000 after purchasing an additional 170 shares in the last quarter. Garrett Investment Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at about $640,000. Sara Bay Financial grew its position in shares of Intuit by 1.5% during the fourth quarter. Sara Bay Financial now owns 19,383 shares of the software maker’s stock valued at $12,468,000 after purchasing an additional 291 shares in the last quarter. Beam Wealth Advisors Inc. purchased a new position in shares of Intuit during the fourth quarter valued at about $220,000. Finally, Dock Street Asset Management Inc. purchased a new position in shares of Intuit during the fourth quarter valued at about $233,000. Hedge funds and other institutional investors own 79.97% of the company’s stock.

Intuit Company Profile

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

Featured Story: What is the downside to momentum investing?

The Fly logo

Analyst Recommendations for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.