Piper Sandler Cuts Intuit (NASDAQ:INTU) Price Target to $765.00

Intuit (NASDAQ:INTU) had its target price lowered by Piper Sandler from $768.00 to $765.00 in a report issued on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the software maker’s stock.

INTU has been the topic of a number of other reports. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 0.9 %

Shares of INTU stock opened at $634.62 on Friday. Intuit has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market cap of $177.77 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. The firm’s 50-day moving average is $634.58 and its 200-day moving average is $631.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last released 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 analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. Sell-side analysts predict that Intuit will post 14.05 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, 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. Insiders have sold a total of 55,265 shares of company stock worth $35,200,125 over the last three months. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuit

A number of institutional investors and hedge funds have recently modified their holdings of INTU. EntryPoint Capital LLC bought a new stake in shares of Intuit in the 1st quarter worth approximately $60,000. Bamco Inc. NY boosted its position in Intuit by 33.9% during the 1st quarter. Bamco Inc. NY now owns 23,419 shares of the software maker’s stock valued at $15,222,000 after buying an additional 5,928 shares during the period. Ascent Group LLC grew its holdings in Intuit by 51.8% in the 1st quarter. Ascent Group LLC now owns 4,496 shares of the software maker’s stock worth $2,922,000 after acquiring an additional 1,534 shares during the last quarter. Caxton Associates LP purchased a new position in shares of Intuit in the first quarter valued at about $754,000. Finally, Zurich Insurance Group Ltd FI raised its stake in shares of Intuit by 11.6% during the first quarter. Zurich Insurance Group Ltd FI now owns 141,023 shares of the software maker’s stock valued at $91,665,000 after acquiring an additional 14,648 shares during 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.