Brokerages Set Intuit Inc. (INTU) Target Price at $237.75
Shares of Intuit Inc. (NASDAQ:INTU) have earned a consensus rating of “Hold” from the twenty-four ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $237.75.
Several analysts recently weighed in on INTU shares. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a report on Monday, January 21st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $255.00 target price (up previously from $250.00) on shares of Intuit in a report on Tuesday, January 22nd. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $212.00 target price on shares of Intuit in a report on Friday, February 1st. Morgan Stanley raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 target price on the stock in a report on Monday, February 4th. Finally, BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th.
Shares of INTU traded up $4.09 during mid-day trading on Tuesday, hitting $265.68. 1,209,509 shares of the company’s stock were exchanged, compared to its average volume of 1,514,206. The stock has a market capitalization of $66.78 billion, a PE ratio of 58.65, a P/E/G ratio of 2.99 and a beta of 1.19. Intuit has a fifty-two week low of $174.35 and a fifty-two week high of $272.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.88 annualized dividend and a yield of 0.71%. Intuit’s dividend payout ratio is currently 41.50%.
In other news, EVP James Alexander Chriss sold 923 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $247.10, for a total transaction of $228,073.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dennis D. Powell sold 4,083 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $248.96, for a total transaction of $1,016,503.68. Following the transaction, the director now owns 3,550 shares in the company, valued at $883,808. The disclosure for this sale can be found here. Insiders sold 90,609 shares of company stock worth $22,757,853 over the last quarter. 4.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of Intuit during the first quarter worth approximately $2,036,000. Chicago Capital LLC grew its position in shares of Intuit by 33.0% during the first quarter. Chicago Capital LLC now owns 6,052 shares of the software maker’s stock worth $1,582,000 after acquiring an additional 1,500 shares during the last quarter. Anderson Hoagland & Co. grew its position in shares of Intuit by 1.3% during the first quarter. Anderson Hoagland & Co. now owns 13,785 shares of the software maker’s stock worth $3,568,000 after acquiring an additional 175 shares during the last quarter. Brinker Capital Inc. grew its position in shares of Intuit by 13.3% during the first quarter. Brinker Capital Inc. now owns 32,323 shares of the software maker’s stock worth $8,450,000 after acquiring an additional 3,789 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its position in shares of Intuit by 1.2% during the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 32,538 shares of the software maker’s stock worth $8,506,000 after acquiring an additional 390 shares during the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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