Intuit (NASDAQ:INTU) Given New $775.00 Price Target at Barclays

Intuit (NASDAQ:INTU) had its price target decreased by Barclays from $800.00 to $775.00 in a research report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the software maker’s stock.

Several other brokerages have also recently commented on INTU. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Piper Sandler dropped their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Trading Down 0.9 %

Shares of INTU opened at $634.62 on Friday. The stock has a 50 day simple moving average of $634.58 and a 200-day simple moving average of $631.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $177.77 billion, a PE ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. Intuit has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the business earned $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Intuit will post 14.05 EPS for the current fiscal year.

Intuit Dividend Announcement

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

Insider Activity

In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by company insiders.

Institutional Trading of Intuit

A number of institutional investors have recently modified their holdings of INTU. International Assets Investment Management LLC raised its position in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Holocene Advisors LP grew its position in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Intuit during the second quarter worth about $184,982,000. Ameriprise Financial Inc. increased its position in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, State Street Corp raised its position in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

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.