Intuit (NASDAQ:INTU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Intuit (NASDAQ:INTU) had its price objective boosted by JPMorgan Chase & Co. from $600.00 to $640.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler cut their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Bank of America lifted their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group raised their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Price Performance

INTU opened at $634.62 on Friday. The firm has a market capitalization of $177.77 billion, a P/E ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. The stock has a fifty day moving average of $634.58 and a 200-day moving average of $631.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $1.14 EPS. Equities analysts forecast that Intuit will post 14.05 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders 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 yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This represents a 99.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated 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 sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuit

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

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.