Intuit Inc. (NASDAQ:INTU) Receives $679.41 Average Target Price from Analysts

Shares of Intuit Inc. (NASDAQ:INTU - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-three analysts that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $683.91.

Several equities research analysts recently commented on INTU shares. Morgan Stanley lifted their price objective on Intuit from $680.00 to $740.00 and gave the stock an "overweight" rating in a report on Monday, May 13th. Jefferies Financial Group reiterated a "buy" rating and issued a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a report on Monday, May 27th. Piper Sandler raised their target price on Intuit from $750.00 to $760.00 and gave the stock an "overweight" rating in a research report on Friday, May 24th. Finally, KeyCorp raised their target price on Intuit from $720.00 to $740.00 and gave the stock an "overweight" rating in a research report on Monday, May 20th.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares of the company's stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Intuit news, insider Scott D. Cook sold 27,309 shares of the company's stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total value of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares of the company's stock, valued at approximately $3,870,020,221.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company's stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock valued at $113,123,232 in the last quarter. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuit

Hedge funds have recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit in the 4th quarter worth $25,000. West Branch Capital LLC lifted its holdings in shares of Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker's stock worth $28,000 after buying an additional 19 shares during the period. MCF Advisors LLC lifted its holdings in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker's stock worth $29,000 after buying an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Intuit in the 4th quarter worth $38,000. Finally, Sachetta LLC purchased a new stake in shares of Intuit in the 4th quarter worth $39,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.9 %

Shares of NASDAQ:INTU traded up $5.77 on Friday, hitting $657.21. 1,753,974 shares of the company traded hands, compared to its average volume of 1,351,102. Intuit has a 52 week low of $444.19 and a 52 week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $618.61 and a 200-day simple moving average of $627.92. The company has a market cap of $183.72 billion, a PE ratio of 60.63, a PEG ratio of 3.66 and a beta of 1.21.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period last year, the company earned $7.80 EPS. Intuit's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts expect that Intuit will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit's payout ratio is 33.21%.

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.