Intuit (NASDAQ:INTU) PT Lowered to $715.00 at Barclays

Intuit (NASDAQ:INTU) had its target price cut by Barclays from $802.00 to $715.00 in a report published on Wednesday morning, The Fly reports.

Other research analysts have also issued reports about the company. The Goldman Sachs Group raised Intuit from a neutral rating to a buy rating and boosted their target price for the stock from $535.00 to $840.00 in a report on Friday, November 19th. Wolfe Research boosted their price target on Intuit from $700.00 to $850.00 and gave the company an outperform rating in a research note on Friday, November 19th. Mizuho boosted their price target on Intuit from $640.00 to $730.00 and gave the company a buy rating in a research note on Friday, November 19th. KeyCorp boosted their price target on Intuit from $625.00 to $750.00 and gave the company an overweight rating in a research note on Friday, November 19th. Finally, Morgan Stanley boosted their price target on Intuit from $615.00 to $715.00 and gave the company an overweight rating in a research note on Monday, November 15th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $665.10.

NASDAQ:INTU opened at $550.79 on Wednesday. The firm has a market capitalization of $155.97 billion, a price-to-earnings ratio of 72.86, a price-to-earnings-growth ratio of 4.56 and a beta of 1.04. Intuit has a twelve month low of $359.33 and a twelve month high of $716.86. The stock’s 50 day moving average price is $634.61 and its two-hundred day moving average price is $577.70. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 18th. The software maker reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.56. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.81 billion. Intuit had a return on equity of 22.39% and a net margin of 20.28%. The business’s quarterly revenue was up 51.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 EPS. As a group, analysts anticipate that Intuit will post 7.74 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 10th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, January 7th. This represents a $2.72 dividend on an annualized basis and a yield of 0.49%. Intuit’s payout ratio is presently 35.98%.

In other news, CFO Michelle M. Clatterbuck sold 620 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $691.96, for a total value of $429,015.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 15,000 shares of the stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $607.47, for a total value of $9,112,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,950 shares of company stock valued at $34,464,008. Insiders own 3.27% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Truvestments Capital LLC grew its stake in Intuit by 1.6% during the third quarter. Truvestments Capital LLC now owns 1,089 shares of the software maker’s stock worth $587,000 after purchasing an additional 17 shares during the period. Ballentine Partners LLC grew its stake in Intuit by 1.4% during the second quarter. Ballentine Partners LLC now owns 1,336 shares of the software maker’s stock worth $655,000 after purchasing an additional 19 shares during the period. AGF Investments LLC grew its stake in Intuit by 3.5% during the second quarter. AGF Investments LLC now owns 564 shares of the software maker’s stock worth $276,000 after purchasing an additional 19 shares during the period. Assetmark Inc. grew its stake in Intuit by 4.7% during the second quarter. Assetmark Inc. now owns 426 shares of the software maker’s stock worth $209,000 after purchasing an additional 19 shares during the period. Finally, MJP Associates Inc. ADV grew its stake in Intuit by 3.0% during the third quarter. MJP Associates Inc. ADV now owns 645 shares of the software maker’s stock worth $348,000 after purchasing an additional 19 shares during the period. 79.97% of the stock is owned by institutional investors.

About Intuit

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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