Intuit (NASDAQ:INTU) Price Target Cut to $735.00 by Analysts at Jefferies Financial Group

Intuit (NASDAQ:INTU) had its target price lowered by Jefferies Financial Group from $800.00 to $735.00 in a research note issued to investors on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the company. Scotiabank reduced their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $718.00.

Intuit Stock Up 2.5 %

INTU opened at $613.99 on Monday. Intuit has a one year low of $553.24 and a one year high of $714.78. 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 stock has a market capitalization of $171.65 billion, a P/E ratio of 59.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business’s 50-day simple moving average is $596.09 and its 200-day simple moving average is $622.00.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In other news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,896 shares of company stock valued at $35,689,216 over the last quarter. Company insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. DSG Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth $242,000. Chancellor Financial Group WB LP bought a new position in shares of Intuit in the 4th quarter worth about $212,000. 111 Capital acquired a new position in shares of Intuit in the 4th quarter valued at about $1,534,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Intuit by 4.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,676 shares of the software maker’s stock valued at $19,280,000 after buying an additional 1,369 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its stake in Intuit by 0.4% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 69,686 shares of the software maker’s stock worth $43,798,000 after acquiring an additional 286 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.