Barclays Cuts Intuit (NASDAQ:INTU) Price Target to $490.00

Intuit (NASDAQ:INTUGet Rating) had its price target trimmed by Barclays from $502.00 to $490.00 in a research report sent to investors on Friday, The Fly reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other analysts have also recently issued reports on INTU. Moffett Nathanson started coverage on shares of Intuit in a research report on Thursday, September 22nd. They set an outperform rating and a $500.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intuit from $525.00 to $560.00 in a research report on Wednesday, August 24th. Wells Fargo & Company reduced their price target on shares of Intuit from $550.00 to $525.00 and set an overweight rating on the stock in a research report on Wednesday, November 2nd. CICC Research started coverage on shares of Intuit in a research report on Monday, September 19th. They set a market perform rating on the stock. Finally, Oppenheimer increased their price target on shares of Intuit from $476.00 to $516.00 and gave the stock an outperform rating in a research report on Wednesday, August 24th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $538.16.

Intuit Trading Down 0.5 %

NASDAQ INTU opened at $380.07 on Friday. The firm’s 50-day moving average is $402.93 and its two-hundred day moving average is $410.16. Intuit has a 12 month low of $339.36 and a 12 month high of $716.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $107.13 billion, a P/E ratio of 52.42, a PEG ratio of 2.66 and a beta of 1.19.

Intuit (NASDAQ:INTUGet Rating) last posted its earnings results on Tuesday, August 23rd. The software maker reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.20. Intuit had a net margin of 16.23% and a return on equity of 16.47%. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. On average, sell-side analysts anticipate that Intuit will post 9.07 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th were paid a $0.78 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a yield of 0.82%. The ex-dividend date was Thursday, October 6th. Intuit’s dividend payout ratio is currently 43.03%.

Insider Buying and Selling at Intuit

In other news, CFO Michelle M. Clatterbuck sold 1,791 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $462.12, for a total transaction of $827,656.92. Following the transaction, the chief financial officer now directly owns 1,350 shares in the company, valued at $623,862. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Michelle M. Clatterbuck sold 1,791 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $462.12, for a total transaction of $827,656.92. Following the transaction, the chief financial officer now directly owns 1,350 shares in the company, valued at $623,862. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 6,768 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the transaction, the chief financial officer now owns 1,350 shares in the company, valued at $607,500. The disclosure for this sale can be found here. Insiders have sold 39,318 shares of company stock worth $18,027,628 over the last three months. Insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On Intuit

Hedge funds have recently modified their holdings of the business. Atwood & Palmer Inc. lifted its holdings in shares of Intuit by 225.0% during the second quarter. Atwood & Palmer Inc. now owns 65 shares of the software maker’s stock worth $25,000 after purchasing an additional 45 shares during the period. Apeiron RIA LLC lifted its holdings in shares of Intuit by 47.5% during the second quarter. Apeiron RIA LLC now owns 761 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Intuit during the third quarter worth $25,000. San Luis Wealth Advisors LLC acquired a new stake in Intuit in the first quarter valued at $26,000. Finally, SRS Capital Advisors Inc. lifted its holdings in Intuit by 81.0% in the second quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock valued at $29,000 after acquiring an additional 34 shares during the period. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Company Profile

(Get Rating)

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 ProConnect.

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