Intuit’s (INTU) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Intuit (NASDAQ:INTU) in a research note published on Wednesday,Benzinga reports. They currently have a $785.00 price target on the software maker’s stock, up from their prior price target of $765.00.

Other research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Barclays dropped 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. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Finally, Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $717.88.

Intuit Price Performance

INTU stock opened at $613.84 on Wednesday. The company has a market capitalization of $171.82 billion, a PE ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. The stock’s 50 day moving average is $605.90 and its two-hundred day moving average is $627.25. 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 has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuit

Several large investors have recently added to or reduced their stakes in INTU. Integrated Advisors Network LLC raised its holdings in Intuit by 9.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock valued at $879,000 after acquiring an additional 124 shares in the last quarter. Strategic Blueprint LLC grew its stake in shares of Intuit by 1.9% in the 3rd quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after purchasing an additional 22 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Intuit by 9.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock valued at $899,000 after purchasing an additional 126 shares during the period. Childress Capital Advisors LLC grew its stake in shares of Intuit by 3.2% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,137 shares of the software maker’s stock valued at $706,000 after purchasing an additional 35 shares during the period. Finally, Mutual Advisors LLC grew its stake in shares of Intuit by 21.5% in the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock valued at $1,625,000 after purchasing an additional 476 shares during the period. 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.