Intuit (NASDAQ:INTU) PT Raised to $750.00 at Citigroup

Intuit (NASDAQ:INTU) had its price objective boosted by Citigroup from $727.00 to $750.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America cut their target price on shares of Intuit from $760.00 to $730.00 and set a buy rating for the company in a research report on Friday, May 24th. UBS Group lifted their price target on shares of Intuit from $625.00 to $670.00 and gave the stock a neutral rating in a research note on Monday, May 20th. Erste Group Bank reiterated a hold rating on shares of Intuit in a research note on Friday, June 14th. BMO Capital Markets reiterated an outperform rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Finally, Jefferies Financial Group reaffirmed a buy rating and set a $770.00 price target on shares of Intuit in a report on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $683.91.

Intuit Trading Down 1.0 %

Shares of INTU stock opened at $650.77 on Friday. The firm has a market capitalization of $181.92 billion, a PE ratio of 60.03, a price-to-earnings-growth ratio of 3.76 and a beta of 1.23. The stock has a fifty day moving average of $618.61 and a two-hundred day moving average of $628.28. Intuit has a 1 year low of $444.19 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

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

Intuit Dividend Announcement

The company also recently declared 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 dividend payout ratio (DPR) is 33.21%.

Insiders Place Their Bets

In related news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the sale, the chief financial officer now directly owns 2,332 shares in the company, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Insiders sold 193,937 shares of company stock worth $113,123,232 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parnassus Investments LLC lifted its position in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after purchasing an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after buying an additional 1,990 shares during the period. Glenmede Trust Co. NA increased its stake in Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC acquired a new position in shares of Intuit during the 4th quarter worth $1,292,000. 83.66% of the stock is currently owned by 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.