Oppenheimer Lowers Intuit (NASDAQ:INTU) Price Target to $642.00

Intuit (NASDAQ:INTU - Free Report) had its target price reduced by Oppenheimer from $722.00 to $642.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the software maker's stock.

INTU has been the subject of several other reports. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Morgan Stanley raised shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. Scotiabank dropped their target price on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Finally, StockNews.com downgraded Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One research 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's stock. According to MarketBeat.com, Intuit has an average rating of "Moderate Buy" and a consensus target price of $713.56.

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Intuit Trading Up 0.1 %

Shares of Intuit stock traded up $0.53 on Friday, reaching $594.08. The company had a trading volume of 1,159,097 shares, compared to its average volume of 1,565,423. 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 firm has a market cap of $166.08 billion, a PE ratio of 57.68, a PEG ratio of 2.85 and a beta of 1.25. The firm's 50 day moving average price is $591.81 and its two-hundred day moving average price is $617.24. Intuit has a 52-week low of $532.65 and a 52-week high of $714.78.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last 90 days. Insiders own 2.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after purchasing an additional 3,648 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its stake in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock valued at $27,223,000 after purchasing an additional 1,602 shares during the period. Finally, Douglas Lane & Associates LLC grew its holdings in Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after purchasing an additional 12,916 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other 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.