Intuit (NASDAQ:INTU) Given New $640.00 Price Target at JPMorgan Chase & Co.

Intuit (NASDAQ:INTU) had its target price lifted by JPMorgan Chase & Co. from $600.00 to $640.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

A number of other research analysts also recently issued reports on INTU. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus cut their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Trading Down 0.9 %

INTU opened at $634.62 on Friday. The business has a fifty day simple moving average of $634.58 and a 200-day simple moving average of $631.24. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. The firm has a market cap of $177.77 billion, a P/E ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during 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 firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. On average, equities analysts expect that Intuit will post 14.05 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock worth $35,200,125 in the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INTU. LGT Financial Advisors LLC bought a new position in Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new position in Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.