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

Piper Sandler reiterated their overweight rating on shares of Intuit (NASDAQ:INTU) in a research report sent to investors on Friday morning,Benzinga reports. Piper Sandler currently has a $765.00 target price on the software maker’s stock.

A number of other equities research analysts have also weighed in on INTU. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Finally, Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 0.4 %

Shares of INTU opened at $623.43 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market capitalization of $174.51 billion, a price-to-earnings ratio of 60.53, a PEG ratio of 3.24 and a beta of 1.25. The stock has a fifty day moving average of $649.58 and a 200-day moving average of $638.21.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. As a group, sell-side analysts anticipate that Intuit will post 14.07 earnings per share 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 $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares in the company, 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 90 days, insiders sold 291,936 shares of company stock worth $188,324,604. 2.68% of the stock is owned by corporate insiders.

Institutional Trading of Intuit

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Intuit by 17.3% during the second 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 last quarter. Finally, State Street Corp lifted its holdings in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Hedge funds and other 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.