Intuit (NASDAQ:INTU) Given New $480.00 Price Target at Barclays

Intuit (NASDAQ:INTU – Get Rating) had its price target reduced by Barclays from $585.00 to $480.00 in a research note published on Friday, The Fly reports. They currently have an overweight rating on the software maker’s stock.

A number of other research firms have also commented on INTU. Bank of America dropped their price objective on shares of Intuit from $750.00 to $650.00 and set a buy rating on the stock in a research note on Friday, February 25th. KeyCorp dropped their price target on shares of Intuit from $700.00 to $600.00 and set an overweight rating on the stock in a research note on Monday, February 28th. Piper Sandler dropped their price target on shares of Intuit from $770.00 to $674.00 and set an overweight rating on the stock in a research note on Friday, February 25th. Oppenheimer dropped their price target on shares of Intuit from $696.00 to $588.00 and set an outperform rating on the stock in a research note on Friday, February 25th. Finally, Zacks Investment Research upgraded shares of Intuit from a hold rating to a buy rating and set a $492.00 price target on the stock in a research note on Wednesday, March 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of Buy and an average target price of $595.95.

NASDAQ INTU opened at $371.37 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $105.03 billion, a PE ratio of 47.37, a P/E/G ratio of 2.89 and a beta of 1.16. Intuit has a one year low of $339.36 and a one year high of $716.86. The firm’s fifty day moving average is $440.81 and its two-hundred day moving average is $528.62.

Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The software maker reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.26). The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.72 billion. Intuit had a net margin of 19.03% and a return on equity of 20.37%. The company’s revenue for the quarter was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Research analysts predict that Intuit will post 8.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Monday, April 11th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, April 8th. Intuit’s dividend payout ratio (DPR) is presently 34.69%.

In other Intuit news, EVP James Alexander Chriss sold 368 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $478.84, for a total value of $176,213.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 59,286 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total transaction of $28,162,628.58. The disclosure for this sale can be found here. 3.27% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JSF Financial LLC lifted its stake in shares of Intuit by 2.9% during the fourth quarter. JSF Financial LLC now owns 675 shares of the software maker’s stock valued at $434,000 after buying an additional 19 shares during the period. Segall Bryant & Hamill LLC lifted its stake in shares of Intuit by 0.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,601 shares of the software maker’s stock valued at $1,672,000 after buying an additional 19 shares during the period. Hixon Zuercher LLC lifted its stake in shares of Intuit by 2.4% during the fourth quarter. Hixon Zuercher LLC now owns 850 shares of the software maker’s stock valued at $547,000 after buying an additional 20 shares during the period. FineMark National Bank & Trust lifted its stake in shares of Intuit by 2.1% during the fourth quarter. FineMark National Bank & Trust now owns 959 shares of the software maker’s stock valued at $617,000 after buying an additional 20 shares during the period. Finally, Oakworth Capital Inc. raised its stake in Intuit by 2.3% during the fourth quarter. Oakworth Capital Inc. now owns 982 shares of the software maker’s stock worth $632,000 after purchasing an additional 22 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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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