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

Intuit Inc. (NASDAQ:INTU) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $645.00.

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Mizuho increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Wells Fargo & Company raised their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. KeyCorp upped their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler raised their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd.

Insider Buying and Selling

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Institutional investors and hedge funds have recently made changes to their positions in the business. Fairfield Bush & CO. raised its position in shares of Intuit by 39.6% in the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after acquiring an additional 1,035 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Intuit by 10.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after buying an additional 48,196 shares during the period. Cetera Investment Advisers increased its position in shares of Intuit by 8.4% in the 1st quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock valued at $1,552,000 after buying an additional 249 shares in the last quarter. Baird Financial Group Inc. raised its stake in Intuit by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock worth $25,825,000 after buying an additional 3,576 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Intuit by 6.6% during the first quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock worth $16,448,000 after acquiring an additional 2,127 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $621.11 on Friday. The firm has a fifty day moving average price of $646.53 and a two-hundred day moving average price of $596.25. Intuit has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $173.91 billion, a PE ratio of 63.38, a price-to-earnings-growth ratio of 3.82 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the company earned $1.05 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Analysts expect that Intuit will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

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.