Intuit (NASDAQ:INTU) Price Target Raised to $720.00 at KeyCorp

Intuit (NASDAQ:INTU) had its price objective boosted by KeyCorp from $700.00 to $720.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other equities analysts have also commented on the company. Stifel Nicolaus increased their target price on Intuit from $600.00 to $720.00 and gave the company a buy rating in a report on Friday, February 23rd. Citigroup raised their price objective on Intuit from $565.00 to $651.00 and gave the stock a buy rating in a report on Wednesday, November 29th. Morgan Stanley raised their price objective on Intuit from $525.00 to $570.00 and gave the stock an overweight rating in a report on Wednesday, November 29th. Wells Fargo & Company raised their price objective on Intuit from $615.00 to $710.00 and gave the stock an overweight rating in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Intuit has an average rating of Moderate Buy and a consensus target price of $645.00.

Intuit Stock Up 1.4 %

Intuit stock opened at $648.74 on Wednesday. Intuit has a twelve month low of $400.22 and a twelve month high of $671.01. The stock’s fifty day simple moving average is $645.76 and its 200-day simple moving average is $586.88. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $181.65 billion, a P/E ratio of 66.20, a P/E/G ratio of 3.89 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. As a group, equities analysts expect that Intuit will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,260 shares of company stock valued at $20,667,475. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NewSquare Capital LLC bought a new stake in shares of Intuit during the 3rd quarter valued at about $25,000. DiNuzzo Private Wealth Inc. bought a new position in Intuit in the 4th quarter worth about $25,000. Cape Investment Advisory Inc. bought a new position in Intuit in the 3rd quarter worth about $26,000. MCF Advisors LLC grew its position in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Steward Financial Group LLC grew its position in Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

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.