Barclays Issues Positive Forecast for Intuit (NASDAQ:INTU) Stock Price

Intuit (NASDAQ:INTU - Free Report) had its price objective lifted by Barclays from $740.00 to $800.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the software maker's stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Piper Sandler reiterated an "overweight" rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Morgan Stanley cut Intuit from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.24.

Intuit Stock Down 1.8 %

NASDAQ INTU traded down $12.89 during trading on Friday, reaching $687.87. 1,798,949 shares of the company's stock were exchanged, compared to its average volume of 1,335,732. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit has a fifty-two week low of $552.68 and a fifty-two week high of $714.78. The company's fifty day simple moving average is $631.62 and its 200-day simple moving average is $629.71. The firm has a market capitalization of $192.80 billion, a PE ratio of 65.67, a P/E/G ratio of 3.45 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The company's revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts predict that Intuit will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. This is a positive change from Intuit's previous quarterly dividend of $0.90. Intuit's dividend payout ratio is currently 39.81%.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value 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. This represents a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the company's stock in a transaction on 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 completion of the sale, the insider now owns 6,453,105 shares of the company's stock, 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 55,297 shares of company stock valued at $35,220,046 over the last three months. 2.90% of the stock is owned by insiders.

Institutional Trading of Intuit

A number of large investors have recently bought and sold shares of the business. LGT Financial Advisors LLC bought a new position in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit in the second quarter valued at $35,000. 83.66% of the stock is owned by institutional investors.

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.