Intuit Inc. (NASDAQ:INTU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Intuit Inc. (NASDAQ:INTU) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $679.41.

Several research analysts recently commented on INTU shares. Wells Fargo & Company boosted their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. UBS Group boosted their target price on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Piper Sandler boosted their target price on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Jefferies Financial Group reissued a “buy” rating and set a $770.00 target price on shares of Intuit in a research note on Thursday, June 13th. Finally, Stifel Nicolaus lowered their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, May 24th.

Intuit Trading Up 2.2 %

Shares of NASDAQ INTU opened at $651.44 on Friday. Intuit has a twelve month low of $444.19 and a twelve month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $616.71 and a 200-day simple moving average of $627.26. The stock has a market capitalization of $182.11 billion, a PE ratio of 60.10, a PEG ratio of 3.61 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the previous year, the firm posted $7.80 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Intuit will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The disclosure for this sale can be found here. In the last three months, insiders sold 193,937 shares of company stock valued at $113,123,232. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares during the period. Morgan Stanley grew its holdings in shares of Intuit by 3.7% in the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares during the period. Wellington Management Group LLP grew its holdings in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Brown Advisory Inc. grew its holdings in shares of Intuit by 2.3% in the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after acquiring an additional 80,517 shares during the period. Finally, Norges Bank acquired a new stake in shares of Intuit in the 4th quarter worth approximately $2,101,848,000. Institutional investors and hedge funds 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.