Intuit (NASDAQ:INTU) Given New $800.00 Price Target at Barclays

Intuit (NASDAQ:INTU) had its price target raised by Barclays from $740.00 to $800.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $739.24.

Intuit Price Performance

INTU traded down $12.89 during trading on Friday, hitting $687.87. 1,799,379 shares of the stock traded hands, compared to its average volume of 1,335,732. The business has a 50 day moving average price of $633.08 and a 200 day moving average price of $630.06. The company has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25. Intuit has a twelve month low of $552.68 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. Equities research analysts forecast that Intuit will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC raised its position in Intuit by 6.5% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,222 shares of the software maker’s stock valued at $795,000 after buying an additional 75 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Intuit by 19.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 29,270 shares of the software maker’s stock worth $19,026,000 after acquiring an additional 4,858 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Intuit by 20.4% in the first quarter. Nicolet Advisory Services LLC now owns 908 shares of the software maker’s stock valued at $585,000 after purchasing an additional 154 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Intuit by 62.3% during the first quarter. Acadian Asset Management LLC now owns 16,327 shares of the software maker’s stock valued at $10,606,000 after purchasing an additional 6,266 shares in the last quarter. 83.66% of the stock is 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.