Piper Sandler restated their overweight rating on shares of Intuit (NASDAQ:INTU – Free Report) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $760.00 price objective on the software maker’s stock.
INTU has been the subject of several other reports. Erste Group Bank reissued a hold rating on shares of Intuit in a report on Friday, June 14th. Citigroup upped their target price on shares of Intuit from $727.00 to $750.00 and gave the company a buy rating in a report on Friday, June 28th. Stifel Nicolaus reduced their target price on shares of Intuit from $720.00 to $690.00 and set a buy rating for the company in a report on Friday, May 24th. Morgan Stanley upped their price target on shares of Intuit from $680.00 to $740.00 and gave the stock an overweight rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada initiated coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an outperform rating and a $760.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $687.22.
Get Our Latest Research Report on Intuit
Intuit Stock Up 2.5 %
Intuit (NASDAQ:INTU – Get Free Report) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the previous year, the company earned $7.80 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Intuit will post 11.72 EPS for the current fiscal year.
Intuit Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.
Insider Activity
In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,963 shares of company stock worth $114,442,445. Corporate insiders own 2.90% of the company’s stock.
Institutional Trading of Intuit
Institutional investors have recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. acquired a new stake in Intuit in the 4th quarter worth approximately $25,000. West Branch Capital LLC boosted its stake in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. MCF Advisors LLC raised its position in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Intuit during the 4th quarter worth approximately $38,000. Finally, Sachetta LLC purchased a new position in Intuit during the 4th quarter worth approximately $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.
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.
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